Welcome to our dedicated page for NOVO NORDISK A S SEC filings (Ticker: NVO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Novo Nordisk A/S filings document the Danish healthcare company's financial reporting, product portfolio, pipeline progress and capital structure as a foreign private issuer. Form 6-K reports include operating and financial results, commercial updates for diabetes and obesity medicines, regulatory and clinical disclosures for products such as Wegovy, and development updates in areas including sickle cell disease.
The filing record also covers B-share repurchase programs, treasury-share ownership, share-capital information, governance matters and risk-related disclosures. These reports connect Novo Nordisk's chronic-disease business, GLP-1 franchise, biopharmaceutical research and shareholder-capital actions to formal regulatory disclosure.
Novo Nordisk A/S reported solid 2025 growth but signalled a tougher 2026. Net sales rose 6% in Danish kroner and 10% at constant exchange rates to DKK 309.1 billion, driven by obesity and GLP‑1 diabetes therapies. Operating profit was DKK 127.7 billion, up 6% at constant exchange rates but down 1% in Danish kroner after around DKK 8 billion of one‑off restructuring costs linked to a company‑wide transformation and integration of three former Catalent sites. Net profit increased 1% to DKK 102.4 billion, with diluted EPS up 2% to DKK 23.03.
Obesity and diabetes care sales reached DKK 289.5 billion, up 10% at constant exchange rates, as Wegovy® obesity sales climbed 41% at constant exchange rates to DKK 79.1 billion and total obesity care rose 31% at constant exchange rates to DKK 82.3 billion. GLP‑1 diabetes products grew 6% at constant exchange rates to DKK 152.2 billion, while rare disease sales increased 9% at constant exchange rates to DKK 19.6 billion. The US FDA approved once‑daily Wegovy® pill, launched in January 2026, which already generates about 50,000 weekly prescriptions.
For 2026, Novo Nordisk introduces adjusted non‑IFRS guidance that excludes a USD 4.2 billion reversal of 340B rebate provisions. Adjusted sales and adjusted operating profit are both expected to decline by 5–13% at constant exchange rates, as lower realised prices, the US “Most Favoured Nations” agreement, patent expiry for semaglutide in some international markets and rising competition more than offset volume growth. On an unadjusted basis, the mid‑point of sales and operating profit growth guidance would be about –1% and 11% at constant exchange rates. The company proposes a total 2025 dividend of DKK 11.70 per share, up 2.6%, and has approved a new share repurchase programme of up to DKK 15 billion.
Novo Nordisk reported 2025 results at constant exchange rates with sales up 10% and operating profit up 6%, in line with its earlier guidance ranges. In Q4 2025, sales declined 2% and operating profit fell 4% at constant exchange rates, reflecting a softer quarter.
For 2026, reported sales and operating profit will benefit from a USD 4.2 billion reversal of sales rebate provisions related to the US 340B Drug Pricing Program. To give a clearer view of underlying performance, Novo Nordisk is introducing new non-IFRS measures of adjusted sales and adjusted operating profit growth. For 2026, it guides for adjusted sales growth of -5% to -13% and adjusted operating profit growth of -5% to -13% at constant exchange rates, driven by its sales outlook and higher investments in R&D and commercial activities.
Novo Nordisk reported phase 3 REIMAGINE 2 results showing that once-weekly CagriSema provided stronger blood sugar control and weight loss than semaglutide in adults with type 2 diabetes. From a mean HbA1c of 8.2%, CagriSema 2.4 mg/2.4 mg reduced HbA1c by 1.91%-points after 68 weeks versus 1.76%-points with semaglutide 2.4 mg. From a mean body weight of 101 kg, CagriSema achieved 14.2% weight loss versus 10.2% with semaglutide, with 43% of participants losing at least 15% of body weight and 24% losing at least 20%. The therapy appeared to have a safe and well-tolerated profile with mainly mild to moderate gastrointestinal side effects. Novo Nordisk plans to discuss the regulatory pathway for CagriSema in type 2 diabetes with authorities, while a separate submission for weight management was already sent to the US FDA in December 2025.
Novo Nordisk reports that the US FDA has approved the once-daily Wegovy® pill, an oral semaglutide 25 mg tablet, as the first oral GLP-1 therapy for weight management. The pill is approved to reduce excess body weight, help maintain weight loss long term and reduce the risk of major adverse cardiovascular events such as death, heart attack or stroke in adults with known heart disease and either obesity or overweight. In the OASIS 4 phase 3b trial, adults with obesity or overweight with at least one comorbidity who adhered to treatment achieved a 16.6% mean weight loss, and about one in three achieved weight loss of 20% or more. The weight loss from the Wegovy® pill was similar to that of injectable Wegovy® 2.4 mg, and the safety profile was consistent with prior semaglutide trials. Novo Nordisk expects to launch the Wegovy® pill in the US in early January 2026 and has submitted the oral formulation for obesity to the European Medicines Agency and other regulators where approval is still pending.
Novo Nordisk A/S has reported insider dealing information in line with market abuse regulations. The company discloses that board member Stephan Engels purchased Novo Nordisk B shares on Nasdaq Copenhagen. He bought 6,450 shares at a price of DKK 312.50 per share, corresponding to an aggregated transaction value of DKK 2,015,625.00 on 17 November 2025. The report is made under Article 19 of EU Regulation No. 596/2014 on market abuse, which requires company insiders and their closely associated persons to notify transactions in the company’s shares.
Novo Nordisk A/S held an Extraordinary General Meeting on 14 November 2025 to refresh its Board of Directors. Helge Lund, Henrik Poulsen and five other members stepped down. Shareholders elected Lars Rebien Sørensen as chair and Cees de Jong as vice chair, with Britt Meelby Jensen and Stephan Engels joining as members.
All elections run until the next Annual General Meeting on 26 March 2026. Following the meeting, committee roles were set: Sørensen will chair the People and Governance Committee; de Jong will chair the Remuneration Committee and serve on Audit; Engels will chair Audit and sit on Remuneration and People and Governance; and Kasim Kutay will chair the Research & Development Committee.
Novo Nordisk A/S announced that Mikael Dolsten will not seek election to its Board at the extraordinary general meeting on 14 November 2025. Dolsten, formerly Head of R&D at Pfizer, withdrew his candidacy as member and observer due to recent personal circumstances unrelated to Novo Nordisk or the Novo Nordisk Foundation.
The Novo Nordisk Foundation and Novo Holdings A/S will not propose a replacement at the meeting. Instead, they intend for the incoming Board to nominate two additional candidates, alongside the already nominated Helena Saxon, for election at the Annual General Meeting on 26 March 2026. Other candidates for the 14 November 2025 meeting remain as previously announced.
Novo Nordisk A/S reported insider dealings under Article 19 of the EU Market Abuse Regulation. The company disclosed transactions by David Moore, Executive Vice President, US Operations, in Novo Nordisk B shares.
On 2025-11-10, Moore completed two transactions: an acquisition of 18,634 shares at DKK 0.00 as part of a recruitment package (outside a trading venue), and a sale of 8,160 shares at DKK 297.95 on Nasdaq Copenhagen, for an aggregated amount of DKK 2,431,301.74. The instrument is identified as Novo Nordisk B (ISIN DK0062498333).
These disclosures are routine for board members and executives and are reported to enhance transparency around trading by persons discharging managerial responsibilities and their associated persons.
Novo Nordisk announced an agreement with the U.S. Administration to lower prices for semaglutide medicines, including Wegovy and Ozempic, and expand access in the U.S. starting in 2026. Coverage for anti-obesity medicines will be enabled in Medicare Part D through a pilot program designed to cover a majority of Part D beneficiaries. Prices will also be lowered in Medicaid and in the direct-to-patient cash channel, and the company is expected to receive a three-year tariff exemption.
Novo Nordisk currently expects an estimated direct, negative low single-digit impact on global sales growth in 2026. The company plans to provide its 2026 financial outlook alongside full-year 2025 results on 4 February 2026. Following this announcement, Novo Nordisk and the U.S. Administration will finalize the agreement’s details.
Novo Nordisk reported solid growth for the first nine months of 2025 while absorbing major restructuring costs and tightening its outlook. Net sales rose 12% in Danish kroner to DKK 229.9 billion, or 15% at constant exchange rates, driven mainly by Diabetes and Obesity care. Operating profit increased 5% to DKK 95.9 billion (10% at CER), but included around DKK 9 billion of one-off restructuring costs tied to a company-wide transformation; excluding these, operating profit would have grown 15% in kroner and 21% at CER. Net profit was DKK 75.5 billion, up 4%, and diluted EPS reached DKK 16.99.
Obesity care sales climbed 37% in kroner to DKK 59.9 billion (41% at CER), powered by Wegovy, while GLP‑1 diabetes products grew 10% at CER to DKK 114.7 billion. Rare disease sales rose 13% at CER to DKK 14.3 billion. The company is cutting about 9,000 of 78,400 positions and redirecting savings into growth areas.
Novo Nordisk now expects 2025 sales growth of 8–11% at CER and operating profit growth of 4–7% at CER, narrowing prior ranges and reflecting lower growth expectations for GLP‑1 treatments, ongoing transformation costs and recent acquisitions. The R&D pipeline advanced with an FDA approval for Wegovy in MASH, new cardiovascular indications for Rybelsus, multiple late‑stage obesity programmes and the planned acquisition of Akero Therapeutics to expand its MASH portfolio.