By Maggie Fick and Stine Jacobsen
LONDON/COPENHAGEN (Reuters) -Novo Nordisk has appointed U.S. pharmaceutical executive Greg Miley as its new head of corporate affairs, as the obesity drugmaker faces growing pressure from U.S. President Donald Trump on drug pricing.
Miley recently served as senior vice president of government affairs at U.S. pharmaceutical giant AbbVie. He posted a statement on LinkedIn on Friday and Novo Nordisk shared the statement with Reuters.
Novo is turning to an American executive with deep U.S. pharmaceutical experience to help navigate political risks under the Trump administration in the United States, its largest market.
NEW HIRE TO FOCUS ON RELATIONS WITH TRUMP ADMINISTRATION
The appointment comes as new CEO Mike Doustdar tries to revive investor confidence through a restructuring to sharpen Novo’s focus in a fierce obesity drug battle against U.S. rival Eli Lilly. The overhaul includes cutting 9,000 jobs, with 5,000 positions being eliminated in Denmark and layoffs underway across multiple U.S. departments.
“In this new role, I see great potential to strengthen our Global Communication and Public Affairs efforts,” Miley wrote on LinkedIn, adding that he would begin his new role next month and would relocate to Denmark, Novo’s home market.
Miley’s urgent priority will be improving Novo’s relations with the Trump administration, said a source familiar with the matter who spoke on condition of anonymity to discuss confidential information.
Novo’s top U.S. public affairs executive is Jennifer Duck, who joined the company in 2019 after working on the Democrat-led Senate Judiciary Committee and as chief of staff to Democratic Senator Dianne Feinstein. That background is not seen as the right fit under a Republican president, the source said.
Novo did not immediately reply to a request for comment on these points.
Other big pharmaceutical companies have hired public affairs experts with long backgrounds in Republican circles in order to navigate the administration’s pressures on the industry, a source at a European drugmaker told Reuters on Friday.
TRUMP SAYS OZEMPIC PRICE IN US WILL BE LOWERED
Shares of Novo and Lilly fell on Friday after Trump said that the price of Novo’s Ozempic diabetes treatment would be lowered. Ozempic contains the same active ingredient as its weight-loss drug Wegovy.
Miley spent the past decade at AbbVie in Chicago and was promoted two years ago to senior vice president of government affairs, according to his LinkedIn profile. He has worked in the pharmaceutical industry since 2004, building his career at U.S. drugmakers including more than four years in public affairs at Abbott and nearly five years at Pfizer.
AbbVie did not immediately reply to a request for comment. Miley did not reply when contacted by Reuters earlier on Friday.
(Reporting by Maggie Fick in London and Stine Jacobsen in Copenhagen, Editing by Louise Heavens, Kirsten Donovan)
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