Novo Nordisk (NYSE: NVO) details progress on DKK 15bn share repurchase

Rhea-AI Filing Summary

Novo Nordisk A/S reports progress on its ongoing share repurchase programme. Since 4 February 2026, the company has bought back 9,162,992 B shares at an average price of DKK 261.91, for a total of DKK 2,399,878,368.

This activity is part of a broader plan to repurchase up to DKK 15 billion of B shares over 12 months from 4 February 2026. Following the latest transactions, Novo Nordisk holds 26,552,791 B shares as treasury shares, equal to 0.6% of its 4,465,000,000 total A and B shares.

Key Figures

Total planned buyback: DKK 15 billion Current sub-programme size: DKK 3.8 billion Shares repurchased to date: 9,162,992 B shares +5 more

8 metrics

Total planned buyback DKK 15 billion Overall B share repurchase expectation over 12 months from 4 Feb 2026

Current sub-programme size DKK 3.8 billion B share repurchases planned from 4 Feb 2026 to 4 May 2026

Shares repurchased to date 9,162,992 B shares Total B shares repurchased from 4 Feb 2026 to 27 Mar 2026

Average repurchase price DKK 261.91 per B share Average price paid for 9,162,992 B shares since 4 Feb 2026

Repurchase transaction value DKK 2,399,878,368 Total value of B shares repurchased since 4 Feb 2026

Treasury shares held 26,552,791 B shares B treasury shares held after latest transactions, equal to 0.6% of capital

Share capital 4,465,000,000 shares Total A and B shares in the company including treasury shares

Treasury share percentage 0.6% Treasury B shares as a proportion of total share capital

Key Terms

share repurchase programme, treasury shares, Safe Harbour Rules, 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.

treasury shares financial

"Novo Nordisk owns a total of 26,552,791 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")"

foreign private issuer regulatory

"REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-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.

American Depositary Receipts (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 represent ownership of shares in a foreign company, letting those shares trade on U.S. exchanges in U.S. dollars. Think of an ADR as a U.S. receipt for a foreign stock: it makes buying and selling simpler and subjects the investment to familiar U.S. trading rules, which matters to investors because it improves access and liquidity while still carrying risks like currency moves and different dividend handling.

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FAQ

What share repurchase programme has Novo Nordisk (NVO) launched?

Novo Nordisk has launched a B share repurchase programme of up to DKK 15 billion over a 12-month period starting 4 February 2026, as part of its capital allocation strategy and conducted under European Safe Harbour Rules.

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

As of 27 March 2026, Novo Nordisk has repurchased 9,162,992 B shares since 4 February 2026. These shares were bought at an average price of DKK 261.91, representing a total transaction value of DKK 2,399,878,368.

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

Novo Nordisk now holds 26,552,791 B shares of DKK 0.10 as treasury shares. This represents 0.6% of the company’s total share capital, which consists of 4,465,000,000 A and B shares including treasury shares.

What is the size of the current Novo Nordisk (NVO) sub-programme?

Under the programme initiated on 4 February 2026, Novo Nordisk plans to repurchase B shares for up to DKK 3.8 billion between 4 February 2026 and 4 May 2026, as part of the overall DKK 15 billion repurchase framework.

Over what period will Novo Nordisk (NVO) conduct its DKK 15 billion buyback?

Novo Nordisk expects to repurchase B shares for up to DKK 15 billion during a 12-month period beginning on 4 February 2026. The company periodically publishes detailed transaction data on its corporate website.

On which exchanges are Novo Nordisk (NVO) shares 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 ticker NVO.

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

March 30, 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, 30 March 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 23 March 2026, the following transactions have been made:

	Number of B shares	Average purchase price	Transaction value, DKK
Accumulated, last announcement	7,847,992		2,091,696,255
23 March 2026	265,000	234.63	62,177,707
24 March 2026	265,000	237.19	62,854,645
25 March 2026	260,000	238.74	62,072,287
26 March 2026	260,000	232.43	60,431,748
27 March 2026	265,000	228.85	60,645,726
Accumulated under the programme	9,162,992		2,399,878,368

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 26,552,791 B shares of DKK 0.10 as treasury shares, corresponding to 0.6% 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 27 March 2026, Novo Nordisk has since 4 February 2026 repurchased a total 9,162,992 B shares at an average share price of DKK 261.91 per B share equal to a transaction value of DKK 2,399,878,368.

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 23 / 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: March 30, 2026   NOVO NORDISK A/S   Maziar Mike Doustdar Chief Executive Officer