Novo Nordisk A/S (NYSE:NVO) stock is trading lower on Tuesday despite the company raising its fiscal 2026 guidance.
The weight loss drug maker reported second quarter sales of 78.488 billion Danish kroner, up 2% year over year (+3% at constant currency).
However, the sales were down 19% from the first quarter sales of 96.823 billion Danish kroner.
Novo Nordisk said the growth was negatively impacted by a DKK 2.6 billion rebate provision reversal related to the 340B Drug Pricing Program in the second quarter of 2025, creating a tough comparison for the second quarter of 2026.
The company reported adjusted earnings of 6.18 Danish kroner, up 5%.
Second quarter operating profit decreased by 16% at CER to 27.061 billion, or 19% overall, with growth negatively impacted by the U.S. 340B rebate provision reversal a year ago as well as non-cash impairment charges of 6.3 billion Danish kroner related to intangible pipeline assets, including monlunabant (4 billion Danish kroner).
"The Wegovy product portfolio remains a key growth driver for Novo Nordisk in 2026, led by the continued rapid adoption of Wegovy pill in the U.S., which has reached more than 5 million prescriptions since its launch, alongside encouraging early uptake in markets outside the U.S. and the rollout of Wegovy HD (7.2 mg), said Mike Doustdar, president and CEO of Novo Nordisk.
Raises Fiscal 2026 Outlook
Wegovy injectable sales reached 19.484 billion Danish kroner, up 1%, and Wegovy pill generated sales of 3.218 billion Danish kroner. Ozempic sales jumped 3% to 31.375 billion Danish kroner.
"The increased US GLP-1 momentum, combined with continued growth and new launches in International Operations, has led us to further raise our 2026 guidance for both adjusted sales and adjusted operating profit," Doustdar commented.
Novo Nordisk raised its fiscal 2026 outlook on increased expectations for GLP-1 product sales.
The company expects adjusted sales and adjusted operating profit growth to decline between 0% and 6% at CER compared to the prior guidance of a 4% to 12% decline.
NVO Price Action: Novo Nordisk shares were down 6.82% at $43.88 at the time of publication on Tuesday, according to Benzinga Pro data.
Photo: Shutterstock
Login to comment