Novo Nordisk (NYSE: NVO) targets DKK 15B in buybacks, has spent DKK 8.1B

Rhea-AI Filing Summary

Novo Nordisk A/S reports ongoing activity under its B share repurchase programme conducted under EU Market Abuse Regulation Safe Harbour rules. This programme is part of an overall plan to repurchase up to DKK 15 billion of B shares during the 12-month period beginning 4 February 2026. A specific sub-programme initiated on 6 May 2026 allows repurchases of B shares for up to DKK 11,200,000,010.45 through 1 February 2027.

Following transactions from 10–14 August 2026, accumulated repurchases under the sub-programme total 14,125,000 B shares with a value of DKK 4,281,660,830. As of 14 August 2026, since 4 February 2026 Novo Nordisk has repurchased 28,884,179 B shares at an average price of DKK 279.80 per share, for a total of DKK 8,081,660,819. The company now holds 42,924,876 B shares as treasury shares, corresponding to 1.0% of its 4,465,000,000 total A and B shares.

Key Figures

Overall 12-month B share repurchase capacity: DKK 15 billion Sub-programme repurchase limit: DKK 11,200,000,010.45 Shares repurchased since 4 February 2026: 28,884,179 B shares +5 more

8 metrics

Overall 12-month B share repurchase capacity DKK 15 billion Amount expected to be repurchased during 12-month period beginning 4 February 2026

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

Shares repurchased since 4 February 2026 28,884,179 B shares Total B shares repurchased as of 14 August 2026

Average repurchase price DKK 279.80 per B share Average price for 28,884,179 B shares repurchased since 4 February 2026

Total repurchase value since 4 February 2026 DKK 8,081,660,819 Transaction value for 28,884,179 B shares as of 14 August 2026

Treasury B shares held 42,924,876 B shares Treasury shares corresponding to 1.0% of share capital

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

Employees 68,800 Number of employees, operating in 80 countries and marketing in around 170 countries

Key Terms

share repurchase programme, treasury shares, Safe Harbour Rules, Market Abuse Regulation, +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 42,924,876 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 "Safe Harbour Rules")"

Market Abuse Regulation regulatory

"in accordance with Article 5 of Regulation No 596/2014 ... (MAR)"

Market abuse regulation consists of laws and rules designed to prevent dishonest or manipulative practices in financial markets. It aims to ensure fair and transparent trading, so investors can trust that markets operate honestly, much like rules that keep a game fair. By reducing unfair advantages, it helps protect investor confidence and promotes healthy, efficient markets.

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.

FAQ

What is Novo Nordisk (NVO)'s total authorized B share repurchase for the current 12-month period?

Novo Nordisk plans to repurchase B shares for an amount of up to DKK 15 billion during the 12-month period beginning 4 February 2026. This overall framework includes the sub-programme initiated on 6 May 2026 under EU Safe Harbour Rules.

How many B shares has Novo Nordisk (NVO) repurchased so far in 2026 and at what value?

As of 14 August 2026, Novo Nordisk has repurchased 28,884,179 B shares since 4 February 2026 for a total transaction value of DKK 8,081,660,819. The average purchase price in this period is DKK 279.80 per B share.

What is the size of the specific Novo Nordisk (NVO) buyback sub-programme started on 6 May 2026?

Under the sub-programme initiated on 6 May 2026, Novo Nordisk may repurchase B shares for up to DKK 11,200,000,010.45 through 1 February 2027. This sub-programme operates within the broader DKK 15 billion 12‑month repurchase framework.

How many treasury shares does Novo Nordisk (NVO) currently hold and what percentage of share capital is this?

Novo Nordisk currently holds 42,924,876 B shares of DKK 0.10 as treasury shares, which corresponds to 1.0% of its total share capital. Total A and B shares outstanding, including treasury shares, are 4,465,000,000.

What were the most recent daily B share repurchases reported by Novo Nordisk (NVO)?

From 10–14 August 2026, Novo Nordisk repurchased 200,000 B shares each day. Daily average purchase prices ranged from DKK 297.68 to DKK 308.66, with corresponding daily transaction values around DKK 59–62 million.

How many B shares have been repurchased under the current sub-programme at Novo Nordisk (NVO)?

Under the sub-programme initiated 6 May 2026, Novo Nordisk has accumulated repurchases of 14,125,000 B shares with a total transaction value of DKK 4,281,660,830. Individual transaction details are published on novonordisk.com.

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Form 6-K: How Foreign Companies Report to the SEC →

Available on EDGAR 08/18/2026 - 06:05 AM Accepted by SEC EDGAR 08/18/2026 - 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

August 17, 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, 17 August 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 10 August, the following transactions have been made:

	Number of B shares	Average purchase price	Transaction value, DKK
Accumulated, last announcement	13,125,000		3,980,067,920
10 August 2026	200,000	303.97	60,794,002
11 August 2026	200,000	308.66	61,731,241
12 August 2026	200,000	298.62	59,723,538
13 August 2026	200,000	297.68	59,536,173
14 August 2026	200,000	299.04	59,807,956
Accumulated under the programme	14,125,000		4,281,660,830

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 42,924,876 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.

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 14 August 2026, Novo Nordisk has since 4 February 2026 repurchased a total 28,884,179 B shares at an average share price of DKK 279.80 per B share equal to a transaction value of DKK 8,081,660,819.

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 Sho Togo 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 51 / 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: August 17, 2026   NOVO NORDISK A/S   Maziar Mike Doustdar Chief Executive Officer