Novo Nordisk (NOVOB DC) Q1 2026 (DKK): Adj. Net Sales 70.06bln (exp. 60.07bln), Adj. EBIT 32.85bln (exp. 28.74bln), Wegovy Sales 18.25bln (exp. 17.36bln). Sees FY Adj. Sales at CER -4% to -12% (prev. saw -5% to -13%)

Outlook:

• The 2026 outlook is raised, driven by increased expectations for GLP-1 product sales.
• Adjusted sales growth for 2026, which excludes the 340B provision reversal, is now expected to be -4 to -12% at CER (prev. saw -5 to -13%).
• Adjusted operating profit growth, also excluding the 340B provision reversal, is now expected to be -4 to -12% at CER.

Other Metrics:

• Coupled with total prescriptions for Q1 2026 of around 1.3 million and now more than 2 million since launch, it marks the strongest-ever GLP-1 volume launch in the US. Q1 2026 sales for 
• US Operations adjusted sales decreased by 11% at CER in Q1 2026, driven by lower realised prices, partly offset by volume growth across the Wegovy product portfolio.
• Q1 2026 adjusted operating profit decreased by 6% at CER, while reported operating profit increased by 65% at CER, driven by a provision reversal related to the 340B Drug Pricing Program in the US.

Pipeline: 

• Pending regulatory decisions, the first Wegovy® pill launches outside the US are expected during the second half of 2026.