When Mike Doustdar joined Novo Nordisk as CEO, he emphasised corporate evolution. Now, a year later, he has delivered a major rebranding as the drugmaker simplifies both its name and image.
Novo Nordisk has announced that as of today, it will now be known as Novo. While Novo Nordisk will remain its legal name, the change means Novo will be its front-facing identifier.
The company said the rebrand will give it a “distinctive, recognisable and consistent way” to connect with industry partners and the public. Novo’s logo has also been adjusted too—with the new name standing alongside its trusted Apis bull.
Doustdar stated: “We have transformed major areas of healthcare, such as obesity and diabetes, by bringing innovation to conditions that affect millions of lives. But the unmet need remains vast, and at the same time, people's expectations of healthcare are changing.
“Healthcare must become more responsive, relevant and easier to fit into everyday life. Our brand and culture are strategically important and will enhance how we operate and compete, but the reason we exist will not change.”
The changes come at a time when Novo is attempting to chase down Eli Lilly in the obesity and type 2 diabetes (T2D) arenas. While the Danish drugmaker began with a strong start, Lilly has sped into a dominant position. Lilly reported $23bn in revenue in Q2 on the back of strong sales for its T2D and obesity drugs, its 48% uptick far exceeded growth margins for Novo.
Novo has joined a swathe of drugmakers in recent years to opt for a streamlined image. GlaxoSmithKline officially became GSK in 2022, whilst Sanofi went for a minimalist design in the same year. Bristol Myers Squibb has not changed its official legal name to BMS, but it heavily uses the acronym for its brand identity. Eli Lilly is also jumping on the bandwagon, increasingly referring to itself as ‘Lilly’ in marketing materials.
Novo believes its approach, called “Lasting Health Starts Now”, will give it a more memorable and relevant way to be a part of health engagement. Alongside the rebrand, the company introduced a new set of corporate principles that help it innovate and lead a “faster, more competitive and increasingly consumer-driven market”.
The tenets revolve around customer obsession, competitiveness, clarity, and patient care.
Novo’s people, organisation and corporate affairs executive vice-president Tania Sabroe, commented: “Our updated culture will enable us to move with focus and speed, and our rebrand ensures we show up with relevance and distinctiveness across medicines, partnerships, marketing and stakeholder engagement.
"Together, these will sharpen our competitive edge and strengthen our role as a trusted partner in healthcare.”
