WS Investor
04 Nov 2026, 14:36
Novo Nordisk Jumps 7% as GLP-1 Momentum Drives Higher 2026 Outlook
Novo Nordisk (NYSE: NVO) shares rose about 7% after the company reported stronger third-quarter adjusted profit growth and raised its full-year outlook, supported by continued momentum across its GLP-1 portfolio.
Third-quarter sales increased 4% at constant exchange rates to DKK 79.2 billion. Adjusted operating profit rose 27% at constant exchange rates to DKK 31.7 billion, helped by higher GLP-1 sales and an easier comparison against transformation costs recorded a year earlier.
Reported operating profit, however, fell 9% at constant exchange rates to DKK 23.0 billion after Novo recorded DKK 8.7 billion of non-cash impairment charges related to ziltivekimab and the restructuring of its manufacturing network.
Commercial momentum remained strongest in obesity. Wegovy pill sales reached DKK 5.39 billion in Q3 after launches in the U.S., UAE, UK and Germany, with the product now available in eight markets. Novo said the Wegovy franchise maintained more than 50% share of new patient starts in the U.S. branded obesity market.
Ozempic pill also showed encouraging early uptake after its U.S. launch in May, with weekly new-to-brand prescriptions running roughly 100% above pre-launch levels under the Rybelsus brand. The company is also progressing the international rollout of Ozempic 2.0 mg and Wegovy 7.2 mg.
Novo highlighted additional pipeline progress, including 21% weight loss at week 68 for CagriSema in the REDEFINE 9 obesity trial and superior weight loss versus tirzepatide 5 mg in the REIMAGINE 5 diabetes study.
The company raised its 2026 outlook, with adjusted sales growth now expected between -2% and +2% at constant exchange rates and adjusted operating profit growth also expected between -2% and +2%. Management said the improved guidance reflects higher expectations for GLP-1 product sales.
The 7% share gain appears to reflect renewed confidence in Novo Nordisk’s obesity and diabetes franchise after a period of investor concern around competitive pressure and growth expectations. Stronger adjusted profitability, improving oral GLP-1 uptake and the upgraded full-year outlook provided a more constructive signal on the company’s near-term trajectory.
Novo Nordisk (NYSE: NVO) shares rose about 7% after the company reported stronger third-quarter adjusted profit growth and raised its full-year outlook, supported by continued momentum across its GLP-1 portfolio.
Third-quarter sales increased 4% at constant exchange rates to DKK 79.2 billion. Adjusted operating profit rose 27% at constant exchange rates to DKK 31.7 billion, helped by higher GLP-1 sales and an easier comparison against transformation costs recorded a year earlier.
Reported operating profit, however, fell 9% at constant exchange rates to DKK 23.0 billion after Novo recorded DKK 8.7 billion of non-cash impairment charges related to ziltivekimab and the restructuring of its manufacturing network.
Commercial momentum remained strongest in obesity. Wegovy pill sales reached DKK 5.39 billion in Q3 after launches in the U.S., UAE, UK and Germany, with the product now available in eight markets. Novo said the Wegovy franchise maintained more than 50% share of new patient starts in the U.S. branded obesity market.
Ozempic pill also showed encouraging early uptake after its U.S. launch in May, with weekly new-to-brand prescriptions running roughly 100% above pre-launch levels under the Rybelsus brand. The company is also progressing the international rollout of Ozempic 2.0 mg and Wegovy 7.2 mg.
Novo highlighted additional pipeline progress, including 21% weight loss at week 68 for CagriSema in the REDEFINE 9 obesity trial and superior weight loss versus tirzepatide 5 mg in the REIMAGINE 5 diabetes study.
The company raised its 2026 outlook, with adjusted sales growth now expected between -2% and +2% at constant exchange rates and adjusted operating profit growth also expected between -2% and +2%. Management said the improved guidance reflects higher expectations for GLP-1 product sales.
The 7% share gain appears to reflect renewed confidence in Novo Nordisk’s obesity and diabetes franchise after a period of investor concern around competitive pressure and growth expectations. Stronger adjusted profitability, improving oral GLP-1 uptake and the upgraded full-year outlook provided a more constructive signal on the company’s near-term trajectory.
