Novo Nordisk raises adjusted sales and adjusted operating profit outlook for 2026
Rhea-AI Summary
Novo Nordisk (NYSE:NVO) reported second-quarter 2026 adjusted sales of DKK 78,488 million, up 7% at constant exchange rates (CER), and adjusted operating profit of DKK 33,389 million, up 11% at CER. These adjusted growth rates exclude non-recurring impacts from US 340B provision reversals and DKK 6.3 billion of non-cash impairment charges related to intangible pipeline assets, including monlunabant.
For full-year 2026 at CER, Novo Nordisk now expects adjusted sales growth of 0% to -6% and adjusted operating profit growth of 0% to -6%, improved from previous ranges of -4% to -12% for both metrics. According to Novo Nordisk, the upgraded outlook is driven by increased expectations for GLP-1 product sales. On a non-adjusted basis, the mid-points of 2026 sales and operating profit growth guidance at CER would be 5% and 12%, respectively. Full financial results for the first six months of 2026 will be published on 4 August 2026.
Positive
- Q2 2026 adjusted sales DKK 78,488m, up 7% at CER
- Q2 2026 adjusted operating profit DKK 33,389m, up 11% at CER
- 2026 adjusted sales growth outlook raised to 0% to -6% at CER from -4% to -12%
- 2026 adjusted operating profit outlook raised to 0% to -6% at CER from -4% to -12%
- Non-adjusted 2026 guidance mid-points imply 5% sales and 12% operating profit growth at CER
Negative
- 2026 adjusted guidance ranges still allow up to 6% decline in sales and operating profit at CER
- DKK 6.3bn non-recurring, non-cash impairments recorded in Q2 2026 on intangible pipeline assets, including DKK 4.0bn for monlunabant
News Market Reaction – NVO
In the Aug 4 session, NVO declined 5.97%, reflecting a notable negative market reaction. Argus tracked a trough of -10.9% from its starting point during tracking. Our momentum scanner triggered 30 alerts that day, indicating elevated trading interest and price volatility. Trading volume was very high at 4.3x the daily average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Bagsværd, Denmark, 4 August 2026 – Novo Nordisk today announced adjusted sales and adjusted operating profit for the second quarter of 2026 and raised 2026 full-year adjusted sales and adjusted operating profit outlook at CER.
Adjusted sales and adjusted operating profit for the second quarter of 2026
Q2 2026 adjusted sales increased by
| Profit and loss DKK million | Q2 2026 | Growth at CER |
| Adjusted sales1 | 78,488 | |
| Adjusted operating profit1, 2 | 33,389 |
CER: Constant exchange rates; 1Adjusted sales and adjusted operating profit growth rates exclude the non-recurring impact from the provision reversals related to the 340B Drug Pricing Program in the US. 2Excl. DKK 6.3 billion non-recurring, non-cash impairment charges in Q2 2026 related to intangible pipeline assets, including monlunabant (DKK 4.0 billion)
2026 adjusted sales and adjusted operating profit outlook at CER
Adjusted sales growth for 2026 is now expected to be
| Outlook 2026 (CER) | Full year expectations 4 August 2026 | Full year expectations 6 May 2026 |
| Adjusted sales growth | - | |
| Adjusted operating profit growth | - |
Note: On a non-adjusted basis, the mid-point of sales and operating profit growth guidance for 2026, both at CER, would be
Novo Nordisk’s full disclosure of the financial results for the first six months of 2026 will be published on 4 August 2026.
The above expectations are based on assumptions, including those described on pages 13 and 14 of the financial report for the first three months of 2026 (Company Announcement No 30/2026).
The forward-looking statements on page 23 in the financial report for the first three months of 2026 (Company Announcement No 30/2026) also apply to this company announcement.
Conference call
Novo Nordisk will host a conference call for investors at 13.00 CEST on 5 August 2026, corresponding to 7.00 am EDT. For more information on how to listen, please visit the investor section of novonordisk.com.
About Novo Nordisk
Novo Nordisk is a leading global healthcare company founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat serious chronic diseases built upon our heritage in diabetes. We do so by pioneering scientific breakthroughs, expanding access to our medicines and working to prevent and ultimately cure disease. Novo Nordisk employs about 66,700 people in 80 countries and markets its products in around 170 countries. Novo Nordisk's B shares are listed on Nasdaq Copenhagen (Novo-B). Its ADRs are listed on the New York Stock Exchange (NVO). For more information, visit novonordisk.com, Facebook, Instagram, X, LinkedIn and YouTube.
Publication of inside information pursuant to Market Abuse Regulation, Article 17.
Contacts for further information
| Novo Nordisk Media: | |
| Ambre James-Brown +45 3079 9289 globalmedia@novonordisk.com | Liz Skrbkova (US) +1 609 917 0632 lzsk@novonordisk.com |
| Novo Nordisk Investors: | |
| Michael Novod +45 3075 6050 nvno@novonordisk.com | Sina Meyer +45 3079 6656 azey@novonordisk.com |
| Ida Schaap Melvold +45 3077 5649 idmg@novonordisk.com | Christoffer Togo Solgaard-Tullin +45 3079 1471 cftu@novonordisk.com |
| Alex Bruce +45 3444 2613 axeu@novonordisk.com | Mads Berner Bruun +45 3075 2936 mbbz@novonordisk.com |
| Frederik Taylor Pitter (US) +1 609 613 0568 fptr@novonordisk.com |
Company announcement No 47 / 2026
Attachment
