Novo Nordisk buys back DKK 9.0B in B shares

Novo Nordisk details ongoing B share buybacks totalling just over DKK 9.0 billion since February 2026, now holding 1.0% of its share capital as treasury shares.

Rhea-AI Filing Summary

Novo Nordisk A/S (NVO) reports ongoing progress in its B share repurchase activities under its previously announced capital return programme. A specific programme initiated on May 6, 2026 allows repurchases of B shares for up to DKK 11,200,000,010.45 from May 6, 2026 to February 1, 2027, within an overall 12‑month repurchase framework of up to DKK 15 billion beginning February 4, 2026.

Including transactions from August 31 to September 4, 2026, the company has repurchased 17,275,000 B shares under the May 6 programme for a total of DKK 5,221,774,293. As of September 4, 2026, Novo Nordisk has since February 4, 2026 repurchased 32,034,179 B shares at an average price of DKK 281.63, for a total transaction value of DKK 9,021,774,283. Novo Nordisk now holds 46,074,876 B shares as treasury shares, equal to 1.0% of its total share capital of 4,465,000,000 A and B shares.

Key Figures

Overall share repurchase capacity: DKK 15,000,000,000 May 6, 2026 programme limit: DKK 11,200,000,010.45 Shares repurchased under May 6 programme: 17,275,000 shares +5 more

8 metrics

Overall share repurchase capacity DKK 15,000,000,000 Maximum B share repurchases expected during the 12‑month period beginning February 4, 2026

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

Shares repurchased under May 6 programme 17,275,000 shares Accumulated B shares repurchased under the May 6, 2026 programme

Transaction value under May 6 programme DKK 5,221,774,293 Total cost of B shares repurchased under the May 6, 2026 programme

Total shares repurchased since February 4, 2026 32,034,179 B shares Cumulative B shares repurchased as of September 4, 2026

Average repurchase price DKK 281.63 per B share Average price for 32,034,179 B shares repurchased since February 4, 2026

Treasury shares held 46,074,876 B shares B shares of DKK 0.10 held as treasury shares, equal to 1.0% of share capital

Total share capital 4,465,000,000 shares Total A and B shares in Novo Nordisk, including treasury shares

Key Terms

share repurchase programme, treasury shares, Safe Harbour Rules, average share price, +1 more

5 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 46,074,876 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 ... the Commission Delegated Regulation (EU) 2016/1052 ... (the "Safe Harbour Rules")"

average share price financial

"repurchased a total 32,034,179 B shares at an average share price of DKK 281.63"

ADR financial

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

An American Depositary Receipt (ADR) is a financial certificate that lets investors buy shares of a foreign company through U.S. stock markets, similar to buying a local wrapper that represents the underlying foreign shares. ADRs matter because they make investing in overseas companies easier and more liquid by trading in U.S. dollars and under U.S. market rules, while still carrying currency, regulatory, and country-specific risks that can affect share value.

FAQ

What is the size of Novo Nordisk (NVO)'s current 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, as part of its overall share repurchase programme.

How much has Novo Nordisk (NVO) repurchased so far in 2026?

As of September 4, 2026, Novo Nordisk has repurchased 32,034,179 B shares since February 4, 2026, at an average price of DKK 281.63 per B share, for a total transaction value of DKK 9,021,774,283.

What has been bought under the May 6, 2026 share repurchase sub-programme?

Under the programme initiated May 6, 2026, Novo Nordisk has bought 17,275,000 B shares for a total of DKK 5,221,774,293, within an authorised maximum of DKK 11,200,000,010.45 running to February 1, 2027.

What percentage of Novo Nordisk (NVO)'s share capital is held as treasury shares?

Novo Nordisk holds 46,074,876 B shares of DKK 0.10 as treasury shares, corresponding to 1.0% of the company’s total share capital.

How many shares does Novo Nordisk (NVO) have outstanding in total?

The total amount of A and B shares in Novo Nordisk is 4,465,000,000, including treasury shares.

On which exchanges are Novo Nordisk (NVO)'s securities listed?

Novo Nordisk’s B shares are listed on Nasdaq Copenhagen under Novo‑B, and its ADRs are listed on the New York Stock Exchange under the symbol NVO.

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

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Available on EDGAR 09/09/2026 - 06:04 AM Accepted by SEC EDGAR 09/09/2026 - 06:00 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 7, 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, 07 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 31 August, the following transactions have been made:

	Number of B shares	Average purchase price	Transaction value, DKK
Accumulated, last announcement	16,220,000		4,907,673,815
31 August 2026	210,000	291.92	61,302,771
1 September 2026	215,000	293.94	63,196,785
2 September 2026	215,000	297.42	63,945,131
3 September 2026	215,000	305.35	65,649,697
4 September 2026	200,000	300.03	60,006,094
Accumulated under the programme	17,275,000		5,221,774,293

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 46,074,876 B shares of DKK 0.10 as treasury shares, corresponding to 1.0% of the share capital. The total amount of A and B shares in the company is 4,465,000,000 including treasury shares.

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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 4 September 2026, Novo Nordisk has since 4 February 2026 repurchased a total 32,034,179 B shares at an average share price of DKK 281.63 per B share equal to a transaction value of DKK 9,021,774,283.

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

Media:
Ambre James-Brown	Liz Skrbkova (US)
+45 3079 9289	+1 609 917 0632
globalmedia@novonordisk.com	USMediaRelations@novonordisk.com
Investors:
Michael Novod	Sina Meyer
+45 3075 6050	+45 3079 6656
nvno@novonordisk.com	azey@novonordisk.com
Alex Bruce	Ida Schaap Melvold
+45 3444 2613	+45 3077 5649
axeu@novonordisk.com	idmg@novonordisk.com
Christoffer Togo Solgaard-Tullin	Mads Berner Bruun
+45 3079 1471	+45 3075 2936
cftu@novonordisk.com	mbbz@novonordisk.com
Frederik Taylor Pitter (US)
+1 609 613 0568
fptr@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 54 / 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 7, 2026   NOVO NORDISK A/S   Maziar Mike Doustdar Chief Executive Officer