Novo Nordisk (NYSE: NVO) details DKK 7.16B 2026 B-share repurchases

Rhea-AI Filing Summary

Novo Nordisk A/S reports progress on its B share repurchase programme. Under a sub-programme started 6 May 2026 and running to 1 February 2027, the company may buy back B shares for up to DKK 11,200,000,010.45 as part of a broader DKK 15 billion 12‑month programme beginning 4 February 2026.

As of 24 July 2026, it has repurchased 25,919,179 B shares at an average price of DKK 276.33 per share, for a total of DKK 7,162,368,893. Following recent purchases, Novo Nordisk holds 43,104,480 B shares of DKK 0.10 as treasury shares, equal to 1.0% of the company’s 4,465,000,000 A and B shares including treasury shares.

Key Figures

Overall B-share repurchase target: DKK 15 billion May 2026 sub-programme capacity: DKK 11,200,000,010.45 Repurchases since 4 February 2026: 25,919,179 B shares +5 more

8 metrics

Overall B-share repurchase target DKK 15 billion Planned repurchases of B shares during 12-month period beginning 4 February 2026

May 2026 sub-programme capacity DKK 11,200,000,010.45 Maximum B-share buybacks from 6 May 2026 to 1 February 2027

Repurchases since 4 February 2026 25,919,179 B shares Total B shares repurchased as of 24 July 2026

Total value of 2026 repurchases DKK 7,162,368,893 Aggregate transaction value for B shares bought since 4 February 2026

Average 2026 repurchase price DKK 276.33 per B share Average price paid for B shares repurchased as of 24 July 2026

Treasury B shares held 43,104,480 B shares Treasury position, equal to 1.0% of share capital

Total share capital 4,465,000,000 A and B shares Total number of shares in the company including treasury shares

Accumulated under May 2026 programme 11,160,000 B shares; DKK 3,362,368,903 B shares and value accumulated under the 6 May 2026 sub-programme

Key Terms

share repurchase programme, Safe Harbour Rules, treasury shares, foreign private issuer, +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.

Safe Harbour Rules regulatory

"2016 (the "Safe Harbour Rules")"

treasury shares financial

"Novo Nordisk owns a total of 43,104,480 B shares ... 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.

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.

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.

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FAQ

What is Novo Nordisk (NVO)'s total planned B-share repurchase for 2026?

Novo Nordisk plans to repurchase B shares for up to DKK 15 billion over a 12‑month period beginning 4 February 2026. This overall programme sets the maximum capital allocated to buybacks during that timeframe.

How many Novo Nordisk (NVO) B shares have been repurchased so far in 2026?

As of 24 July 2026, Novo Nordisk has repurchased 25,919,179 B shares at an average price of DKK 276.33, for a total transaction value of DKK 7,162,368,893 since 4 February 2026.

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

Novo Nordisk holds 43,104,480 B shares of DKK 0.10 as treasury shares, representing 1.0% of its share capital. The total number of A and B shares in the company is 4,465,000,000, including these treasury shares.

What are the terms of Novo Nordisk (NVO)'s May 2026 share repurchase sub-programme?

Under the sub-programme initiated on 6 May 2026, Novo Nordisk may repurchase B shares for up to DKK 11,200,000,010.45 between 6 May 2026 and 1 February 2027, conducted under EU Safe Harbour Rules for market abuse regulation.

On which exchanges are Novo Nordisk (NVO) shares and ADRs listed?

Novo Nordisk’s B shares are listed on Nasdaq Copenhagen under the symbol Novo-B. Its ADRs are listed on the New York Stock Exchange under the symbol NVO, providing access for U.S. investors.

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

July 27, 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, 27 July 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 20 July 2026, the following transactions have been made:

	Number of B shares	Average purchase price	Transaction value, DKK
Accumulated, last announcement	10,200,000		3,053,177,399
20 July 2026	195,000	329.69	64,289,125
21 July 2026	190,000	324.17	61,591,795
22 July 2026	190,000	321.63	61,108,864
23 July 2026	190,000	313.46	59,557,220
24 July 2026	195,000	321.25	62,644,500
Accumulated under the programme	11,160,000		3,362,368,903

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 43,104,480 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 24 July 2026, Novo Nordisk has since 4 February 2026 repurchased a total 25,919,179 B shares at an average share price of DKK 276.33 per B share equal to a transaction value of DKK 7,162,368,893.

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
Max Ung	Christoffer Sho Togo Tullin
+45 3077 6414	+45 3079 1471
mxun@novonordisk.com	cftu@novonordisk.com
Alex Bruce	Mads Berner Bruun
+45 3444 2613	+45 3075 2936
axeu@novonordisk.com	mbbz@novonordisk.com
Ida Schaap Melvold	Frederik Taylor Pitter (US)
+45 3077 5649	+1 609 613 0568
idmg@novonordisk.com	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 44 / 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: July 27, 2026   NOVO NORDISK A/S   Maziar Mike Doustdar Chief Executive Officer