Novo Nordisk has rebranded itself as Novo and introduced "The Novo Way," a four-principle culture framework aimed at improving execution as it competes with Eli Lilly in the obesity-drug market. Novo Nordisk A/S remains its legal name, while the company reversed the direction of its Apis bull logo as a symbolic change of course. Chief Executive Officer Mike Doustdar said obesity treatment has evolved from a stable, insulin-like business into a more consumer-oriented market, where patients move on and off medicines. He said Novo needs further progress in research, manufacturing and sales, while early Medicare uptake among obesity patients offers an initial encouraging demand signal. BMO analysts said the strong launch of oral Wegovy alone does not establish a turnaround. Novo held 38.8% of the obesity-drug market in the second quarter, against Eli Lilly's 60.9%, according to IQVIA data cited in Lilly's earnings presentation. Shares traded near $43.45 on Monday, down about 15.8% year-to-date and roughly 21% over 12 months, and more than 60% below their 2024 peak near $147. Oral Wegovy has generated strong prescription and sales momentum, but pipeline setbacks, restructuring and intensifying competition continue to weigh on the company's outlook.