Novo Nordisk studies hair loss treatments to diversify

Novo Nordisk is evaluating entry into the hair loss treatment market as part of an effort to broaden its direct-to-consumer business. The Danish drugmaker is also examining areas such as addiction and menopause to leverage its scientific expertise and growing direct sales channels for prescription drugs.

Chief Scientific Officer Martin Lange said during a Bloomberg roundtable on Tuesday, September 22, 2026, that hair loss research shares ties with endocrinology, an area where the firm has deep experience. He noted that while hair loss is not necessarily the first area the company will pursue, entering the segment remains a clear possibility. Because some consumer-focused projects carry shorter development timelines, they could potentially reach the market around the end of the decade, either through internal pipelines or acquisitions of near-market compounds.

The diversification push follows the loss of Novo Nordisk's leadership in the obesity market to Eli Lilly. Patents for blockbuster drugs Ozempic and Wegovy are set to expire in the United States and Europe in the early 2030s. According to VeraDermics Inc., hereditary hair loss affects roughly 80 million people in the United States, including 50 million men and 30 million women who lack approved oral treatment options.

Novo Nordisk shares dropped as much as 1.8% in Copenhagen on Tuesday before recovering around midday, following steep declines earlier in the week due to investor dissatisfaction with its turnaround plan. CEO Mike Doustdar said rebuilding market confidence will take time. The company is also developing treatments for heart, liver, and blood disorders, though Lange stated hair loss is not among the eight conditions scheduled for mid-stage clinical trials by late this year or early next year.