Novo Nordisk Lifts Outlook as Rollout of Wegovy Weight-Loss Pill Continues — Update

By Dominic Chopping

Novo Nordisk raised its guidance for the year after noting an improved outlook for its key obesity and diabetes drugs, particularly in markets outside the U.S., as it continues the rollout of its new weight-loss pill.

Shares climbed 4.5% on the news.

The Danish drugmaker said Wednesday that it expects adjusted sales and operating profit to range between a 2% decline and 2% growth at constant exchange rates this year, better than prior guidance for a decline of up to 6% for both metrics.

Analysts had expected Novo to raise its annual guidance on a strong uptake of the Wegovy pill in recently launched markets.

Novo said third-quarter sales of its Wegovy pill reached 5.39 billion Danish kroner, equivalent to $807.2 million, compared with the 4.5 billion kroner expected in a FactSet poll of analysts.

The company is grappling with intensifying competition in the weight-loss market that has seen Eli Lilly's rival shot erode Novo's market share in the injectable segment. At the same time, patent exclusivity for the key ingredient in Wegovy and Ozempic has expired this year in countries such as India, Canada and Brazil, with further countries soon to follow, opening the door to generic competition and lower prices.

However, Novo's weight-loss pill, first launched in the U.S. earlier this year, is racking up strong sales and has given the company a lead in the new market. Since launching stateside, the pill has become available in the U.K., the United Arab Emirates and Germany, with further recent launches in Mexico, Spain, France and Poland.

Though it is still early days, the company said the initial performance of the pill outside the U.S. is "encouraging," with sales reaching 1.22 billion kroner in the quarter.

Additional launches in other markets are planned during the fourth quarter, and Novo expects the pill to be available in more than 20 markets in 2027.

Novo said adjusted group sales in the third quarter grew 6% from a year earlier to 79.2 billion kroner, while adjusted operating profit grew 34% to 31.72 billion kroner.

Both metrics beat expectations, with a FactSet poll forecasting adjusted operating profit of 28.66 billion kroner on sales of 73.65 billion kroner.

Meanwhile, Chief Financial Officer Karsten Munk Knudsen, a 27-year company veteran who has been finance chief since 2018, will leave Novo at the end of the year to pursue other opportunities, the company said. He will be replaced by Galderma CFO Luigi La Corte.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

November 04, 2026 03:52 ET (08:52 GMT)