Novo Nordisk has raised its annual outlook for the second time in three months, driven by strong demand for its weight-loss pill Wegovy. Sales and adjusted operating profits are now expected to rise by up to 2 percent this year, a significant shift from earlier forecasts predicting flat or declining results. The company cited higher-than-expected demand for its obesity and diabetes drugs as the primary driver.
Third-quarter sales grew 4 percent to DKr79.2 billion ($11.9 billion) at constant exchange rates, with Wegovy alone contributing DKr5.4 billion. Despite this growth, Novo anticipates a sales decline in the US due to recent price reductions agreed with the White House. The company is navigating a competitive landscape against Eli Lilly, which has captured a larger market share for weight-loss injections.
However, Novo maintains an early lead with its daily oral pill format. The Danish pharmaceutical giant has endured a difficult year, with its share price falling 15 percent in 2026 and a restructuring effort involving 13,000 job cuts. Chief Financial Officer Karsten Munk Knudsen, a 27-year veteran, is set to depart at year-end, to be replaced by Luigi La Corte from Galderma.
Mike Doustdar, CEO since last year, emphasized the company's disciplined approach to mergers and acquisitions while developing next-generation treatments like Cagri Sema, pending US regulatory approval in early 2027.
Source: Financial Times Companies · Summarized by HeadlinesBriefing