Lars Fruergaard Jorgensen, the chief executive of once-highflying Danish drugmaker Novo Nordisk, is stepping down after eight years in the role, the maker of Ozempic and Wegovy drugs announced on Friday.

CEO Lars Fruergaard Jørgensen will step down after eight years at the helm of the Danish pharmaceutical giant responsible for the blockbuster drugs Ozempic and Wegovy, the company said Friday.

Danish drugmaker Novo Nordisk, known for its blockbuster diabetes and weight-loss treatments Ozempic and Wegovy, said Friday its chief executive was stepping down in the wake of "market challenges". Novo Nordisk launched the anti-obesity drug Wegovy,