Novo Nordisk (NVO) details DKK 15bn B-share repurchase programme

Rhea-AI Filing Summary

Novo Nordisk is updating investors on its ongoing share repurchase programme. The company plans to buy back B shares for up to DKK 15 billion over a 12‑month period starting 4 February 2026, including up to DKK 3.8 billion between 4 February and 4 May 2026.

As of 13 February 2026, Novo Nordisk has repurchased 1,750,000 B shares at an average price of DKK 305.03, for a total of DKK 533,796,640. The company now holds 19,139,799 B shares as treasury shares, equal to 0.4% of its 4,465,000,000 total A and B shares.

Insights

Equity capital allocation analyst

Novo Nordisk is executing a large, structured buyback, modestly tightening its share base.

Novo Nordisk outlines a substantial B-share repurchase framework of up to DKK 15 billion over 12 months, with a dedicated DKK 3.8 billion tranche running through early May 2026. This signals an ongoing commitment to returning capital via buybacks.

By 13 February 2026, the company had already repurchased 1,750,000 B shares for DKK 533,796,640 at an average price of DKK 305.03. Treasury holdings stand at 19,139,799 B shares, or 0.4% of the 4,465,000,000 total A and B shares.

Actual impact depends on how fully the DKK 15 billion capacity is used over the 12‑month period starting 4 February 2026 and how these repurchases interact with share issuances for incentive programmes, which caused a net transfer of 143,527 B shares during 9–13 February 2026.

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

February 16, 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, 16 February 2026 – On 4 February 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 4 February 2026, Novo Nordisk will repurchase B shares for an amount up to DKK 3.8 billion in the period from 4 February 2026 to 4 May 2026.

Since the announcement 9 February 2026, the following transactions have been made:

	Number of B shares	Average purchase price	Transaction value, DKK
Accumulated, last announcement	750,000		222,297,903
9 February 2026	200,000	316.75	63,350,902
10 February 2026	200,000	314.24	62,848,248
11 February 2026	200,000	306.43	61,286,959
12 February 2026	200,000	308.68	61,736,898
13 February 2026	200,000	311.38	62,275,730
Accumulated under the programme	1,750,000		533,796,640

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

Transactions related to Novo Nordisk’s incentive programmes have resulted in a net transfer from Novo Nordisk of 143,527 B shares in the period from 9 February 2026 to 13 February 2026. The shares in these transactions were not part of the Safe Harbour repurchase programme.

With the transactions stated above, Novo Nordisk owns a total of 19,139,799 B shares of DKK 0.10 as treasury shares, corresponding to 0.4% of the share capital. The total amount of A and B shares in the company is 4,465,000,000 including treasury shares.

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 13 February 2026, Novo Nordisk has since 4 February 2026 repurchased a total 1,750,000 B shares at an average share price of DKK 305.03 per B share equal to a transaction value of DKK 533,796,640.

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	lzsk@novonordisk.com
Investors:
Michael Novod	Jacob Martin Wiborg Rode
+45 3075 6050	+45 3075 5956
nvno@novonordisk.com	jrde@novonordisk.com
Max Ung	Sina Meyer
+45 3077 6414	+45 3079 6656
mxun@novonordisk.com	azey@novonordisk.com
Alex Bruce	Christoffer Sho Togo Tullin
+45 34 44 26 13	+45 3079 1471
axeu@novonordisk.com	cftu@novonordisk.com
Frederik Taylor Pitter
+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 11/ 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: February 16, 2026   NOVO NORDISK A/S   Maziar Mike Doustdar Chief Executive Officer

FAQ

What is Novo Nordisk (NVO) planning to spend on its 2026 share repurchase programme?

Novo Nordisk plans to repurchase B shares for up to DKK 15 billion over a 12‑month period starting 4 February 2026. Within this, a sub‑programme of up to DKK 3.8 billion runs from 4 February 2026 to 4 May 2026.

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

As of 13 February 2026, Novo Nordisk has repurchased 1,750,000 B shares since 4 February 2026. These shares were bought at an average price of DKK 305.03 per B share, for a total transaction value of DKK 533,796,640.

What percentage of Novo Nordisk’s share capital is held as treasury shares?

Novo Nordisk currently holds 19,139,799 B shares as treasury shares, corresponding to 0.4% of the share capital. The total number of A and B shares outstanding in the company, including treasury shares, is 4,465,000,000.

Over what period will Novo Nordisk’s current DKK 3.8 billion repurchase tranche run?

The current B-share repurchase tranche of up to DKK 3.8 billion runs from 4 February 2026 to 4 May 2026. It forms part of the broader 12‑month share repurchase programme totaling up to DKK 15 billion.

How do Novo Nordisk’s incentive programmes affect its share count?

Transactions related to Novo Nordisk’s incentive programmes caused a net transfer of 143,527 B shares from the company between 9 and 13 February 2026. These shares were not repurchased under the Safe Harbour programme but still influence the overall number of treasury shares.

On which exchanges are Novo Nordisk shares and ADRs listed?

Novo Nordisk’s B shares are listed on Nasdaq Copenhagen under the symbol Novo-B. Its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange under the symbol NVO, enabling U.S. investors to trade the company’s equity.