Wegovy-maker Novo Nordisk said on Friday its CEO Lars Fruergaard Jorgensen will step down over concerns the company is losing its first-mover advantage in the highly competitive obesity drug market. Under Jorgensen's leadership,

The $2.2 billion deal with U.S. biotech Septerna will see the companies develop pills to treat obesity, type 2 diabetes and other cardiometabolic diseases.

It seems Novo Nordisk is leaving no stone unturned as it builds a pipeline of drug candidates for obesity and cardiometabolic diseases, as it pays $200 million for rights to preclinical-stage candidates developed by Septerna.