Novo Nordisk Third-Quarter Sales Climb on Strong Wegovy Pill Demand
Novo Nordisk reported third-quarter earnings that surpassed expectations on November 4, driven by stronger-than-anticipated sales of its new Wegovy weight-loss pill, according to CNBC. The Danish pharmaceutical company posted quarterly sales of 79.2 billion Danish kroner, equivalent to about $11.9 billion. That figure marks a 4% increase year-on-year at constant exchange rates, beating FactSet estimates of 73.6 billion kroner.
Adjusted operating profit reached 31.7 billion kroner, comfortably outpacing the 28.6 billion kroner analysts had anticipated. Following the earnings release, Novo shares jumped more than 6% in early trading, CNBC reported. The financial update arrives as the company attempts to rebuild momentum in the lucrative weight-loss drug market after trailing rival Eli Lilly in the United States.
Wegovy Oral Tablet Sales Exceed Estimates in the United States
Sales of the Wegovy pill, which launched in the U.S. in January, reached 5.4 billion kroner during the quarter, topping the roughly 4.5 billion kroner analysts expected. Cumulative prescriptions for the oral treatment have surpassed 8 million since its launch, with approximately 3.6 million prescriptions filled in the U.S. alone. This trajectory marks the strongest GLP-1 volume ramp in U.S. history.
Injectable treatments also performed strongly across the board. Sales for injectable Wegovy and the diabetes medication Ozempic reached 20.4 billion kroner and 29.7 billion kroner, respectively, coming in above market expectations. Obesity-related business segment sales totaled 26.146 billion, representing a 22% increase year over year at constant exchange rates.
Full-Year Guidance Upgraded for the Third Time
Buoyed by the third-quarter performance, Novo Nordisk raised its full-year financial outlook for the third time this year. The company now projects adjusted revenue and operating profit growth to land between negative 2% and 2% at constant exchange rates. That adjustment marks an upward revision from its previous guidance of negative 6% to flat growth for both metrics, which had been hiked back in August.
Free cash flow guidance also saw a substantial bump, moving from a previous range of 45 to 55 billion up to 60 to 70 billion. Despite these positive figures, Chief Executive Officer Mike Doustdar urged caution regarding the broader trajectory of the business. Doustdar told reporters that turnaround and recovery cannot be established on the basis of a single strong quarter, pointing out that Copenhagen-listed shares remain down roughly 17% year-to-date following a tumultuous period.
Novo Nordisk Names New Chief Financial Officer
Alongside the financial results, Novo Nordisk announced that Chief Financial Officer Karsten Munk Knudsen will step down at the end of 2026 after a 27-year tenure with the company, including nine years spent in the CFO role. Luigi La Corte, currently serving as CFO of Swiss dermatology company Galderma, is slated to succeed him.
In the product pipeline, the company’s experimental candidate CagriSema demonstrated a 21% weight reduction at Week 68 in the REDEFINE 9 trial and a 12.4% reduction in the REIMAGINE 5 trial. Novo is currently preparing for a potential U.S. launch in early 2027, pending regulatory approvals.
Frequently Asked Questions About Novo Nordisk’s Earnings
How much did the Wegovy pill generate in third-quarter sales?
The Wegovy oral tablet generated 5.4 billion kroner in sales during the third quarter, exceeding analyst expectations of approximately 4.5 billion kroner.
Who is replacing outgoing CFO Karsten Munk Knudsen?
Luigi La Corte, who currently serves as the chief financial officer of Swiss dermatology company Galderma, will succeed Knudsen at the end of 2026.
What is Novo Nordisk’s updated full-year guidance for 2026?
The company adjusted its outlook to project revenue and operating profit growth between negative 2% and 2% at constant exchange rates, up from its prior forecast of negative 6% to flat.
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