Novo Nordisk (NYSE: NVO) details DKK 15B 2026 share repurchase

Rhea-AI Filing Summary

Novo Nordisk A/S is executing a large share repurchase programme of up to DKK 15 billion over 12 months beginning 4 February 2026. Within this, it plans to buy back B shares for up to DKK 3.8 billion from 4 February to 4 May 2026.

As of 6 February 2026, Novo Nordisk has repurchased 750,000 B shares at an average price of DKK 296.40, with a total value of DKK 222,297,903. Incentive plan activity led to a net transfer out of 3,841,954 B shares. The company now holds 18,283,326 B shares as treasury shares, equal to 0.4% of its 4,465,000,000 total A and B shares.

Insights

Equity Capital Markets Analyst

Large DKK 15B buyback is underway, but early days and dilution from incentives offsets some impact.

Novo Nordisk outlines a substantial share repurchase programme of up to DKK 15 billion over 12 months starting 4 February 2026, with a first tranche of up to DKK 3.8 billion through 4 May 2026. Early activity shows steady daily repurchases.

By 6 February 2026, the company had bought 750,000 B shares for DKK 222,297,903 at an average price of DKK 296.40. Over the same short period, incentive programmes caused a net transfer of 3,841,954 B shares out of the company, which partially offsets the effect of repurchases.

After these transactions, Novo Nordisk holds 18,283,326 B shares as treasury shares, corresponding to 0.4% of its 4,465,000,000 total A and B shares. Future disclosures on progress toward the planned DKK 15 billion over the 12‑month period will show how aggressively the company continues buying.

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 9, 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, 9 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 of the programme, the following transactions have been made:

	Number of B shares	Average purchase price	Transaction value, DKK
4 February 2026	270,000	302.71	81,730,658
5 February 2026	280,000	291.98	81,754,584
6 February 2026	200,000	294.06	58,812,661
Accumulated under the programme	750,000		222,297,903

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 3,841,954 B shares in the period from 4 February 2026 to 6 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 18,283,326 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 6 February 2026, Novo Nordisk has since 4 February 2026 repurchased a total 750,000 B shares at an average share price of DKK 296.40 per B share equal to a transaction value of DKK 222,297,903.

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

Company announcement No 08 / 2026

Novo Nordisk A/S Investor Relations	Novo Alle 1 2880 Bagsværd Denmark	Telephone: +45 4444 8888	www.novonordisk.com CVR no: 24 25 67 90
			Company announcement No 8 / 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 9, 2026   NOVO NORDISK A/S   Maziar Mike Doustdar Chief Executive Officer

FAQ

What share buyback has Novo Nordisk (NVO) announced in 2026?

Novo Nordisk has launched a share repurchase programme of up to DKK 15 billion over a 12‑month period starting 4 February 2026. Within this, it plans to buy back B shares for up to DKK 3.8 billion between 4 February and 4 May 2026.

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

As of 6 February 2026, Novo Nordisk has repurchased 750,000 B shares under the programme. These shares were bought at an average price of DKK 296.40 per B share, for a total transaction value of DKK 222,297,903 over the first three trading days.

What is the size and timing of Novo Nordisk’s initial 2026 buyback tranche?

The initial tranche of Novo Nordisk’s 2026 programme allows repurchases of B shares for up to DKK 3.8 billion. This tranche runs from 4 February 2026 to 4 May 2026, executed under EU Market Abuse Regulation safe harbour rules for share buybacks.

How many treasury shares does Novo Nordisk currently hold?

After recent transactions, Novo Nordisk holds 18,283,326 B shares as treasury shares. This represents 0.4% of the company’s total A and B share capital, which stands at 4,465,000,000 shares, including all treasury shares on the balance sheet.

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

Between 4 and 6 February 2026, incentive programme activity caused a net transfer of 3,841,954 B shares from Novo Nordisk. These shares were not part of the safe harbour repurchase programme and reflect share-based compensation arrangements granted to employees or management.

On which exchanges are Novo Nordisk shares listed?

Novo Nordisk’s B shares are listed on Nasdaq Copenhagen under the symbol Novo-B. The company’s American Depositary Receipts (ADRs) are listed on the New York Stock Exchange under the ticker NVO, giving investors access in both Europe and the United States.