01:54 PM EDT, 06/09/2025 (MT Newswires) -- Novo Nordisk ( NVO ) is facing pressure from activist hedge fund Parvus Asset Management, which is building a stake in the company to influence its CEO search, the Financial Times reported Monday, citing people with knowledge of the matter.

Parvus did not disclose its stake in Novo Nordisk ( NVO ), the report said, adding that the Novo Nordisk Foundation holds the majority of voting rights, potentially making it difficult for an activist to exert significant control.

Novo Nordisk ( NVO ) said in May that Chief Executive Lars Fruergaard Jorgensen would step down earlier than planned. Also in May, the company said it had lowered its operating profit and sales growth forecasts for the year.

The company's stock fell 50% over the past year due to disappointing trial results for a new obesity drug and lower-than-expected sales, leading investors to believe the Danish pharmaceutical giant is losing ground to US rival Eli Lilly ( LLY ) , Financial Times said.

Novo Nordisk ( NVO ), Novo Nordisk Foundation, and Parvus Asset Management declined the FT's comment requests.

None of the companies immediately responded to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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