The stock tumbled 19% at the opening bell in Copenhagen after its outlook for the year ahead disappointed investors.
"People should expect that it goes down before it comes back up," CEO Mike Doustdar told CNBC's "Early Edition Europe" on Wednesday. In this article NVO
Danish obesity drug giant Novo Nordisk is set to be punished by investors on Wednesday after it gave a far bleaker-than-expected outlook for 2026 and flagged a tough weight-loss market battle ahead as prices come under pressure.
Novo Nordisk A/S faces a structural margin crisis as oral Wegovy cannibalizes its high-margin injectable business. NVO Q4 2025 results confirm margin contraction: net margin fell 170 bps to 33.1%, with operating profit down 1% despite 6% sales growth. 2026 guidance forecasts adjusted NVO sales and EBIT to decline by -5% to -13%, driven by lower realized prices and higher input costs.
The maker of Ozempic and Wegovy blamed pricing pressures and competition for its downbeat outlook.
Novo Nordisk (NYSE:NVO) shares fell almost 13% on Tuesday as the Danish drugmaker forecast lower sales and profit growth for 2026, citing reduced prices in the United States and loss of exclusivity for its blockbuster GLP-1 drugs Wegovy and Ozempic in several markets. For 2026, Novo Nordisk expects adjusted sales and operating profit to decline between 5% and 13% at constant exchange rates, reversing last year's 10% sales growth.
The Danish drugmaker said adjusted sales should decline between 5% and 13% at constant exchange rates in 2026, a reversal from last year, when sales grew 10%.
Novo Nordisk said late Tuesday it sees sales and profit growth declining this year, expecting a U.S. sales hit. Novo's American depositary shares fell 11% on the news.
Novo Nordisk reports that CagriSema beats semaglutide at HbA1c reduction and weight loss in a 68-week phase III diabetes study, with no weight-loss plateau.
Bank says latest CagriSema results meet expectations, with investor focus shifting to head-to-head data against Eli Lilly's tirzepatide. Novo Nordisk (NYSE:NVO) has reported positive headline results from a late-stage trial of its next-generation diabetes drug CagriSema, but analysts at Citi said the data were largely expected and that more consequential readouts lie ahead.
NVO faces slowing Wegovy and Ozempic sales momentum, pricing pressures and fierce competition ahead of Q4 earnings.
Novo Nordisk A/S has first-mover advantage in obesity pills and aggressive U.S. marketing, supported by a robust cash position, strengthen its competitive stance in the thriving GLP-1 market. Consensus revenue growth forecasts appear overly pessimistic given NVO's historical double-digit growth and Q4 seasonal strength. Despite positives, technical setup, high valuation (PEG 3.3 vs. 1.8 sector median), and potential profit-taking temper enthusiasm make NVO a Hold.