Novo CEO signals M&A opportunities to strengthen drug pipeline

Novo CEO Mike Doustdar told CNBC that the pharmaceutical giant is considering M&A opportunities as it faces growing competition in the crowded weight-loss market.

"Let's see where the gaps are, and let's go out and see who has produced or is about to introduce better drugs than we are able to do on our own, and when that gap can be filled with M&A, we are actually quite interested about it," Doustdar told CNBC's "Squawk Box Europe" on Tuesday.

This is breaking news. Please refresh for updates.