Novo Nordisk aims to launch several new blockbuster drugs in the next few years while expanding into further treatment areas, part of a new plan to revive growth that the Ozempic manufacturer outlined at an investor event in London on Monday.

In addition to at least five new "multiblockbusters," the company is aiming to have at least five new obesity and diabetes drugs and a similar number of drugs in other therapeutic areas in late stage trials by 2030.

It also targets the delivery of over 150 billion Danish kroner ($23.05 billion) in sales from its pipeline drugs in 2035. The company's 2025 total sales were 309.06 billion kroner.

Speaking at the event, Chief Executive Mike Doustdar said that, while the company will continue to strengthen its diabetes portfolio and expand the obesity pipeline, it was also time to further diversify the company.

Novo Nordisk will seek to build out future growth areas in blood and endocrine disorders, liver diseases, and cardiovascular diseases, Doustdar said.

The new ambitions come as the Danish drugmaker has lost ground in the ballooning obesity drug market to rival Eli Lilly.

The company has ceded its lead in the weight-loss jab market to its U.S. rival, but its recently launched weight-loss pills are proving popular and have given Novo Nordisk an early lead in the new oral market. Doustdar has previously said that the early signs give him hope that the new pills could help regain some of the company's lost market share.

At the same time, the active ingredient in its blockbuster Ozempic and Wegovy diabetes and weight-loss drugs has started to lose exclusivity in a number of markets, opening the door to cheaper generic versions of the drugs. The semaglutide patent has lost exclusivity in Canada, India, Brazil and Turkey so far this year, while in Europe and the U.S. the exclusivity period runs into the early 2030s.

Doustdar said Monday that the company will "fiercely compete" for semaglutide volumes in both the markets that still retain exclusivity and in those which have already lost it.

Shares move 4.2% lower.

Novo Nordisk has previously cautioned that it expects the launch of generic drugs to hit sales this year, while lower pricing in the key U.S. market following a deal struck with the Trump administration to cut the cost of obesity drugs will also dent results. Its most recent group guidance points to an adjusted sales fall of up to 6% at constant exchange rates this year.

Elsewhere in the portfolio, the company has also faced recent setbacks that have disappointed investors. Trial results from an experimental cardiovascular drug didn't show the expected risk reduction for heart attack or stroke, while its next-generation obesity and diabetes drug CagriSema disappointed in terms of its blood sugar-lowering effect compared to Eli Lilly's tirzepatide, according to analysts.

Doustdar took charge of the company last year and has overseen an initial flurry of acquisitions and a boardroom shakeup while announcing plans to slash 9,000 jobs under a new restructuring effort. He told The Wall Street Journal last month that he would continue looking out for potential assets and technologies to buy that could complement the company's current pipeline and therapeutic areas, while ruling out large transformative deals.

The company last week rebranded as Novo, betting that a shorter name will help it resonate more with consumers as it competes with Eli Lilly, while keeping Novo Nordisk as its legal name globally.