Novo Nordisk Rebrands Itself as Novo
Danish drugmaker Novo Nordisk is rebranding itself as "Novo." The company announced this change on Monday. It also updated its corporate culture and strategy.
Novo Nordisk competes with Eli Lilly in the weight-loss drug market. The company's CEO is Mike Doustdar.
He told CNBC the company needs to "rethink" its strategy. Novo Nordisk called the changes "the beginning of a new chapter."
Klear Note — Rebranding means changing a company’s public name and identity. Corporate culture describes how a company works and makes decisions.
Key Terms 2
- Eli Lilly A US drugmaker that competes in the weight-loss drug market.
- Mike Doustdar The CEO of Novo Nordisk.