Novo Nordisk buyback tops DKK 9.6bn so far

Novo Nordisk details progress on its DKK 15 billion, 12‑month share repurchase programme, having bought over 34 million B shares so far.

Rhea-AI Filing Summary

Novo Nordisk A/S (NVO) reports progress on its ongoing share repurchase programme conducted under EU Safe Harbour rules. The overall programme targets repurchases of up to DKK 15 billion during the 12‑month period beginning February 4, 2026. Under the sub-programme initiated May 6, 2026, the company may repurchase B shares for up to DKK 11,200,000,010.45 through February 1, 2027.

Including the most recent transactions through September 18, 2026, Novo Nordisk has repurchased 34,174,179 B shares at an average price of DKK 281.79, for a total of DKK 9,629,922,935. Novo Nordisk now holds 48,214,876 B shares as treasury shares, equal to 1.1% of its 4,465,000,000 total A and B shares.

Key Figures

Overall share repurchase programme size: DKK 15,000,000,000 Sub-programme B share limit: DKK 11,200,000,010.45 B shares repurchased since February 4, 2026: 34,174,179 shares +5 more

8 metrics

Overall share repurchase programme size DKK 15,000,000,000 Target repurchase amount for 12‑month period beginning February 4, 2026

Sub-programme B share limit DKK 11,200,000,010.45 Maximum B share repurchases from May 6, 2026 to February 1, 2027

B shares repurchased since February 4, 2026 34,174,179 shares Total B shares bought back as of September 18, 2026

Average repurchase price DKK 281.79 per B share Average price paid for 34,174,179 B shares since February 4, 2026

Total buyback value to date DKK 9,629,922,935 Aggregate transaction value of B shares repurchased since February 4, 2026

Treasury B shares held 48,214,876 shares B shares of DKK 0.10 held as treasury shares after recent transactions

Treasury shares as percentage of share capital 1.1% Proportion of total share capital represented by treasury B shares

Total A and B shares 4,465,000,000 shares Total share count of Novo Nordisk including treasury shares

Key Terms

share repurchase programme, treasury shares, Safe Harbour Rules, Regulation No 596/2014 (MAR), +2 more

6 terms

share repurchase programme financial

"Novo Nordisk initiated a share repurchase programme in accordance with Article 5"

A share repurchase programme is a company's plan to buy back its own shares from the market. This reduces the total number of shares available, which can increase the value of remaining shares and signal confidence in the company's health. For investors, it can indicate that the company believes its stock is undervalued and may lead to higher share prices.

treasury shares financial

"Novo Nordisk owns a total of 48,214,876 B shares of DKK 0.10 as treasury shares"

Treasury shares are a company’s own stock that it has repurchased and keeps on its books instead of canceling or leaving in the hands of outside investors. Think of them like coupons a business puts back in a drawer: they don’t vote or receive dividends while held, but they can be reissued later for employee pay or fundraising. For investors this matters because buybacks change the number of shares that count toward earnings and ownership, can boost per‑share metrics, and use corporate cash that might otherwise go to growth or dividends.

Safe Harbour Rules regulatory

"in accordance with ... 2016/1052 of 8 March 2016 (the "Safe Harbour Rules")"

Regulation No 596/2014 (MAR) regulatory

"in accordance with Article 5 of Regulation No 596/2014 of the European Parliament"

ADRs financial

"Its ADRs are listed on the New York Stock Exchange (NVO)."

American Depositary Receipts (ADRs) are certificates issued by a U.S. bank that stand in for shares of a foreign company, allowing those shares to be bought and sold on U.S. stock exchanges in U.S. dollars. Think of an ADR as a local ticket representing a foreign stock: it makes trading, settlement, and tax reporting simpler for U.S. investors, but still exposes them to risks like currency moves, different accounting rules, and foreign corporate practices.

foreign private issuer regulatory

"REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16"

A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Novo Nordisk (NVO) currently authorizing for its share repurchase programme?

Novo Nordisk expects to repurchase B shares for an amount of up to DKK 15 billion during a 12‑month period beginning February 4, 2026. A sub-programme started May 6, 2026 allows repurchases of up to DKK 11,200,000,010.45 in B shares through February 1, 2027.

How many Novo Nordisk (NVO) B shares have been repurchased so far and at what cost?

As of September 18, 2026, Novo Nordisk has repurchased 34,174,179 B shares at an average price of DKK 281.79 per B share, for a total transaction value of DKK 9,629,922,935 since February 4, 2026.

What portion of Novo Nordisk (NVO) share capital is held as treasury shares?

After the latest repurchases, Novo Nordisk owns 48,214,876 B shares of DKK 0.10 as treasury shares, corresponding to 1.1% of the company’s share capital. The total number of A and B shares, including treasury shares, is 4,465,000,000.

What recent daily buyback activity did Novo Nordisk (NVO) report?

Between September 14 and 18, 2026, Novo Nordisk bought between 210,000 and 225,000 B shares per day at average prices ranging from DKK 275.54 to DKK 281.85, with daily transaction values between DKK 58.4 million and DKK 63.4 million.

Under which regulatory framework is Novo Nordisk’s (NVO) buyback conducted?

The share repurchase programme is conducted in accordance with Article 5 of Regulation No 596/2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, referred to as the Safe Harbour Rules governing market abuse and issuer buybacks in the European Union.

Where can investors find detailed Novo Nordisk (NVO) buyback transactions?

Novo Nordisk states that the details for each transaction made under its share repurchase programme are published on novonordisk.com, providing daily breakdowns of B shares repurchased, average purchase prices and transaction values.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/21/2026 - 11:11 AM Accepted by SEC EDGAR 09/21/2026 - 11:11 AM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________

FORM 6-K

________________

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

September 21, 2026

________________

NOVO NORDISK A/S

 (Exact name of Registrant as specified in its charter)

Novo Allé 1

DK- 2880, Bagsvaerd

Denmark

(Address of principal executive offices)

________________

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F

Form 20-F ☒           Form 40-F ☐

 

 

Novo Nordisk A/S – Share repurchase programme

Bagsværd, Denmark, 21 September 2026 – On 6 May 2026, Novo Nordisk initiated a share repurchase programme in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the "Safe Harbour Rules"). This programme is part of the overall share repurchase programme of up to DKK 15 billion to be executed during a 12-month period beginning 4 February 2026.

Under the programme initiated 6 May 2026, Novo Nordisk will repurchase B shares for an amount up to DKK 11,200,000,010.45 in the period from 6 May 2026 to 1 February 2027.

Since the announcement 14 September, the following transactions have been made:

	Number of B shares	Average purchase price	Transaction value, DKK
Accumulated, last announcement	18,325,000		5,526,186,488
14 September 2026	210,000	281.51	59,116,680
15 September 2026	210,000	278.16	58,414,268
16 September 2026	220,000	276.33	60,792,079
17 September 2026	225,000	275.54	61,996,942
18 September 2026	225,000	281.85	63,416,489
Accumulated under the programme	19,415,000		5,829,922,946

The details for each transaction made under the share repurchase programme are published on novonordisk.com.

With the transactions stated above, Novo Nordisk owns a total of 48,214,876 B shares of DKK 0.10 as treasury shares, corresponding to 1.1% of the share capital. The total amount of A and B shares in the company is 4,465,000,000 including treasury shares.

Page 2 of 2

Novo Nordisk expects to repurchase B shares for an amount up to DKK 15 billion during a 12-month period beginning 4 February 2026. As of 18 September 2026, Novo Nordisk has since 4 February 2026 repurchased a total 34,174,179 B shares at an average share price of DKK 281.79 per B share equal to a transaction value of DKK 9,629,922,935.

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 68,800 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.

Contacts for further information

Novo Nordisk Media:
Ambre James-Brown	Liz Skrbkova (US)
+45 3079 9289	+1 609 917 0632
globalmedia@novonordisk.com	USMediaRelations@novonordisk.com
Novo Nordisk Investors:
Michael Novod	Sina Meyer
+45 3075 6050	+45 3079 6656
nvno@novonordisk.com	azey@novonordisk.com

Christoffer Togo Solgaard-Tullin
+45 3079 1471
cftu@novonordisk.com
Ida Schaap Melvold	Mads Berner Bruun
+45 3077 5649	+45 3075 2936
idmg@novonordisk.com	mbbz@novonordisk.com
Frederik Taylor Pitter (US)	Alex Bruce (US)
+1 609 613 0568	+1 640 230 0276
fptr@novonordisk.com	axeu@novonordisk.com

Novo Nordisk A/S Investor Relations	Novo Allé 1 2880 Bagsværd Denmark	Telephone: +45 4444 8888	www.novonordisk.com CVR no: 24 25 67 90
			Company announcement No 57 / 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf of the undersigned, thereunto duly authorized.

Date: September 21, 2026   NOVO NORDISK A/S   Maziar Mike Doustdar Chief Executive Officer