Novo Nordisk raises 2026 outlook as GLP‑1 momentum lifts Q3 adjusted operating profit to USD 4.9bn

Financial results

Q3 2026 adjusted and reported sales rose 4% at constant exchange rates, supported by GLP‑1 volume growth across US and International operations. Adjusted operating profit increased 27% at CER to USD 4.9 billion, aided by GLP‑1 sales and a favorable comparison with transformation costs recognised in Q3 2025. Reported operating profit declined 9% at CER following USD 1.4 billion of non‑cash impairment charges, including USD 0.7 billion related to ziltivekimab and USD 0.6 billion linked to right‑sizing the manufacturing network.

Commercial performance

Wegovy pill delivered USD 0.8 billion in Q3 and had been launched in the US, UAE, UK and Germany by quarter‑end, with four additional country launches since increasing the total to eight markets. The Wegovy franchise holds over 50% share of new patient starts in the US branded obesity market. Ozempic pill launched in the US in May, with weekly new‑to‑brand prescriptions about 100% above pre‑launch Rybelsus levels. Global roll‑out of Ozempic 2.0 mg and Wegovy 7.2 mg single‑dose pen is progressing in International Operations.

Pipeline progress and regulatory milestones

In obesity, CagriSema (1.0/1.0 mg) produced 21% weight loss at week 68 in REDEFINE 9; in type 2 diabetes it delivered 12.4% weight loss versus 9.1% for tirzepatide 5 mg and non‑inferior HbA1c reduction at week 60 in REIMAGINE 5. The AMAZE 9 phase 3 trial of oral zenagamtide was initiated in September. Frehemgo (denecimig) received a positive CHMP opinion on 17 September with planned first launches in Europe around the turn of the year; US review remains ongoing with a potential H1 2027 launch.

Outlook and events

Adjusted sales growth for 2026 is now expected at –2% to +2% at CER, and adjusted operating profit growth is also expected at –2% to +2% at CER, driven by higher GLP‑1 sales expectations. An earnings call is scheduled for 4 November 2026 at 13:00 CET (07:00 EST).