Novo Nordisk’s Obesity Challenge Is a Business Model Problem, Not a Product Problem Or an Execution Failure
Executive summaryNovo Nordisk’s recent struggles in the obesity market are often explained as execution failures or temporary loss of momentum. This interpretation misses the core issue. The market for obesity drugs has shifted from a prescription-driven, payer-mediated system to a consumer-driven outcome market. In this environment, molecules commoditise, demand becomes patient-led, and value migrates from products to systems. Novo’s challenge…