Novo Nordisk named Maziar Mike Doustdar as its new chief executive on Tuesday, relying on an experienced company insider to revive sales and a share price hit by worries the maker of weight-loss drug Wegovy is falling behind in a race it started.

Novo Nordisk's new CEO, Maziar Mike Doustdar, is tasked with revitalizing the company's flagging sales and addressing investor concerns. His initial challenges include managing the downturn in Wegovy's sales amidst fierce competition in the obesity drug market,