Novo Nordisk's U.S.-traded shares experienced a significant decline of more than 5% after the company provided guidance that did not meet investor expectations. The Danish drugmaker raised its 2026 outlook, now forecasting adjusted sales to be down 6% to flat at constant exchange rates, compared to a previous estimate of a decline between 4% to 12%.
Similarly, the adjusted operating profit is expected to also fall within the same range. In its second-quarter results, Novo Nordisk reported sales of 78.49 billion kroner ($12.09 billion), reflecting a 3% increase in constant currency, with adjusted sales climbing 7%. The adjusted operating profit rose 11% in constant currency to 33.39 billion kroner.
These results follow the launch of a pill version of its Wegovy weight loss drug, which has surpassed 5 million prescriptions since its January debut. CEO Mike Doustdar noted that these product rollouts have helped Novo Nordisk regain market presence against Eli Lilly, which has been leading the GLP-1 market with its Zepbound and Mounjaro injections.
The upcoming earnings release from Eli Lilly could further influence market dynamics in this sector