Lenders of Ascendis Health have pulled the plug on the beleaguered firm, giving it a week to provide firm answers on how the debt they have called in is to be repaid. The move comes after a board shake-up at a last-minute AGM on Monday.

Outgoing CEO Mark Sardi confirmed the seriousness of the lenders’ demands but said they are executing plans already in place such as the sale of Ascendis Pharma, a transaction that was initiated in June...

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