Novo Nordisk reported third quarter 2026 net sales of DKK 79.2 billion, exceeding consensus estimates driven by 22% growth at CER in the obesity portfolio. While reported operating profit fell 9% at CER to DKK 23.0 billion due to DKK 8.7 billion in non-cash impairment charges, adjusted operating profit surged 27% at CER to DKK 31.7 billion. The company raised its full-year 2026 guidance for both adjusted sales and adjusted operating profit growth to a range of -2% to +2% at CER, reflecting strong global demand for GLP-1 therapies.
Key Highlights
- Wegovy injectable sales reached DKK 20.4 billion, surpassing the analyst estimate of DKK 19.66 billion despite intensifying competition.
- The Wegovy pill launch showed significant momentum, contributing DKK 5.4 billion in Q3 revenue with over 3.6 million prescriptions filled in the US during the quarter.
- Obesity sales growth of 22% at CER offset a 5% decline in diabetes sales, which was impacted by lower realized prices for Ozempic and wholesaler inventory movements.
- R&D progress was marked by CagriSema meeting trial endpoints in diabetes and obesity, with regulatory submissions for oral semaglutide 25 mg initiated in China.