Novo Nordisk Raises 2026 Outlook and Cuts U.S. Drug Prices

Novo Nordisk raised its full-year 2026 outlook for adjusted revenue and operating profit growth to a range between negative 2% and 2%, improving upon a previous forecast of negative 6% to flat. The Danish pharmaceutical company reported third-quarter sales of 79.2 billion Danish kroner ($11.9 billion) and an adjusted operating profit of 31.7 billion kroner, both of which exceeded analyst expectations.

Growth was driven by the company's GLP-1 portfolio, with obesity care sales increasing 22% to 26.15 billion kroner. The Wegovy pill generated 5.4 billion kroner in sales, while injectable Wegovy and the diabetes treatment Ozempic also surpassed estimates. However, reported operating profit fell 9% to 23.01 billion kroner due to 8.7 billion kroner in non-cash impairment charges, including a 4.6 billion kroner write-down for ziltivekimab and 4.1 billion kroner for manufacturing network restructuring.

To regain momentum in the United States after falling behind its primary competitor, Eli Lilly and Company, Novo Nordisk announced it will reduce U.S. wholesale acquisition costs. Effective January 1, 2027, the price of Wegovy will be reduced by approximately 50% and Ozempic by approximately 35%.