Russ Mould, investment director at AJ Bell, said: “The worst thing a new boss can do is take the top job and promise the world from day one.
“It’s always better to under-promise and over-deliver.
“In this context, it’s not a surprise to see Novo Nordisk’s new CEO Mike Doustdar cut the drug company’s full-year profit guidance.
“The business is on a long road to recovery after disappointing with weight-loss drug trials and falling behind arch-rival Eli Lilly.
“Mike Doustdar has his work cut out to revitalise Novo Nordisk.
“He’s already reshuffled the board, announced big job cuts, and started what looks to be an aggressive acquisition spree to fill the company’s pipeline of drugs.
“Creating new drugs in the lab is not easy, so buying is sometimes a quicker way to make progress.
“However, it can be expensive as Novo Nordisk is finding out as it is engaged in a bidding war against Pfizer to buy US weight-loss start-up Metsera.”
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