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NOVO.B-DK

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Danish pharmaceutical giant Novo Nordisk on Wednesday announced plans to cut around 9,000 roles, or roughly 11.5% of its global workforce.

"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," the company, which produces the Wegovy weight loss medication, said in a statement.

"As part of the transformation, Novo Nordisk intends to reduce the global workforce by approximately 9,000 of the 78,400 positions in the company, with around 5,000 reductions expected in Denmark."

Shares were up 2.5% by at 8:18 a.m. London time (3:18 a.m. ET), paring earl

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