Novo Nordisk Raises 2026 Forecasts as Shares Fall

Novo Nordisk raised its full-year 2026 outlook for adjusted sales and adjusted operating profit on August 4, 2026. The company revised its expected growth range to between 0% and -6%, an improvement over the previous forecast of -4% to -12%. This second upgrade of the year was driven by strong demand for GLP-1 products, including obesity and diabetes treatments.

For the second quarter of 2026, the company reported adjusted sales of 78.49 billion Danish kroner and an adjusted operating profit of 33.39 billion kroner, representing increases of 7% and 11% at constant exchange rates, respectively. These results follow the launch of a higher-dose injection and a pill version of Wegovy, which has reached 5 million prescriptions since January and generated 3.2 billion Danish kroner in sales.

Despite the improved guidance, investor reaction was negative, and American Depositary Receipts fell as much as 7.2% in New York. Analysts attributed the decline to a lack of unexpected upside regarding the Wegovy pill. The company remains locked in intense competition with Eli Lilly & Co. for an obesity market projected to reach $120 billion annually by 2030. This rivalry recently escalated on July 21, when Novo Nordisk sued Eli Lilly & Co. for allegedly using misleading advertising for the drugs Zepbound and Mounjaro.