Novo Nordisk raises its 2026 outlook as the Wegovy pill takes off
The Danish drugmaker now expects adjusted sales and operating profit to range from a 2% decline to 2% growth this year, up from a 6% decline to flat, after a stronger-than-expected third quarter. Its shares rose more than 4% in Copenhagen.
Novo Nordisk raised its full-year guidance on Wednesday after third-quarter results beat expectations, driven by obesity drugs and the new oral version of Wegovy.
The numbers
- Sales: DKK 79.2 billion (about $11.9 billion), up 4% at constant exchange rates; CNBC said FactSet estimates were DKK 73.6 billion.
- Adjusted operating profit: DKK 31.7 billion, up 27% at constant exchange rates, helped by a weak comparison base after DKK 9 billion in restructuring costs a year earlier.
- Reported operating profit fell 9% because of DKK 8.7 billion in non-cash impairments, linked to the drug candidate ziltivekimab and to downsizing its manufacturing network.
- The Wegovy pill, now sold in eight markets, generated DKK 5.4 billion in the quarter.
Outlook
Novo now expects 2026 adjusted sales and operating profit to change by −2% to +2% at constant exchange rates, compared with −6% to 0% in August. Chief executive Mike Doustdar said both the US and international businesses grew and that the company is preparing a US launch of CagriSema in early 2027, subject to regulatory approval.
The shares rose as much as 6.6% before trimming gains to about 4%.
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