COPENHAGEN, Sept 10 (Reuters) - Wegovy-maker Novo

Nordisk will cut 9,000 jobs in a restructuring,

aiming to save 8 billion Danish crowns ($1.26 billion) annually,

the company said on Wednesday, as it battles rising pressure

from main U.S. rival Eli Lilly ( LLY ).

"Novo Nordisk today announced a company-wide transformation

to simplify its organisation, improve the speed of

decision-making, and reallocate resources towards the company's

growth opportunities in diabetes and obesity," it said in a

statement.

The company already said in August that it had implemented a

global hiring freeze covering job roles that were not critical

for its business.

Novo, which currently has 78,400 positions globally,

said around 5,000 of the jobs will be cut in its native Denmark.

"Our markets are evolving, particularly in obesity, as

it has become more competitive and consumer-driven. Our company

must evolve as well," newly appointed CEO Mike Doustdar said in

the statement.

"This means instilling an increased performance-based

culture, deploying our resources ever more effectively, and

prioritising investment where it will have the most impact -

behind our leading therapy areas," he added.

Novo, which became Europe's most valuable listed company

worth $650 billion last year on booming sales of Wegovy, is

facing a pivotal moment as the medicine loses market share and

sees sales growth slow, especially in the United States.

It has warned of far slower growth this year - in part

due to compounders who have been allowed to make copycat

medicines based on the same ingredients as Wegovy due to

shortages.

Investors

in July

wiped $70 billion off the drugmaker's market value, after

Novo issued a profit warning and named company veteran Doustdar

as its new CEO.

($1 = 6.3724 Danish crowns)