Novo Halts Work on Cell Therapy Cure for Diabetes to Cut Costs

Novo Nordisk A/S cut its cell therapy division, which has been trying to find a cure for type 1 diabetes, as the Ozempic maker continues to slash headcount to focus on lucrative areas of obesity and diabetes treatment.

The Danish drugmaker is seeking partners to keep developing its innovations, according to a statement Friday. The Borsen newspaper reported almost all of the department’s 250 employees will be laid off. Novo declined to give details.