By Louise Rasmussen

COPENHAGEN (Reuters) – Novo Nordisk, the maker of blockbuster weight-loss drug Wegovy, will cut 9,000 jobs or 11.5% of its workforce in a restructuring to save some $1.3 billion annually, as it battles rising pressure from U.S. rival Eli Lilly.

Novo, which was at one point last year Europe’s most valuable listed company, is facing a pivotal moment as Wegovy and its diabetes treatments Ozempic lose market share and sales growth slows, especially in the United States.

The overhaul will simplify the company, improve the speed of decision-making, and reallocate resources towards growth opportunities, the company said in a statement on Wednesday.

“Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven. Our company must ev

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