June 9 (Reuters) - Activist hedge fund Parvus Asset Management is building a stake in

Novo Nordisk, after the company lost its first mover advantage in the lucrative

weight-loss drug market, the Financial Times reported on Monday, citing people with knowledge of

the details.

The London-based fund, which has targeted budget airline Ryanair and Italian bank

UniCredit, wants to influence the appointment of Novo Nordisk's new CEO, the report

said.

Novo told Reuters in an email that it does not "have anything to add." Parvus did not

immediately respond to a request for comment.

In May, the company announced its CEO Lars Fruergaard Jorgensen would step down after shares

plunged from a record-high in June last year as competition, particularly from U.S. rival Eli

Lilly ( LLY ), makes inroads into Novo's market share, while its pipeline of new drugs has

failed to impress investors.

Novo also expects its Wegovy weight-loss drug sales in the United States to start recovering

once a ban on compound copycats is enforced this month, Jorgensen said last month after the

company cut its 2025 forecasts.