Novo Nordisk lifts 2026 outlook as Wegovy pill sales beat

Novo Nordisk ↘ 3.82% raised its full-year forecast on Wednesday, November 4, 2026, after a third quarter that came in ahead of expectations. Sales of the Wegovy pill in the US and the older Ozempic injection both beat forecasts. The company now expects adjusted sales and adjusted operating profit to land between a 2% decline and a 2% gain at constant exchange rates (CER), up from an earlier range of a 6% decline to flat, according to RTTNews. The improved outlook rests mostly on higher expectations for its GLP-1 drugs.rttnews.com

"We delivered a stronger-than-expected third quarter and are raising our full-year outlook," CEO Mike Doustdar said in the company's earnings release. He said growth "was led by our obesity portfolio, with continued uptake of Wegovy pill in the US and encouraging early launches internationally."manilatimes.net

Profit up, impairments weigh

Adjusted operating profit rose 34% to DKK 31.72 billion, or 27% at CER. Revenue grew 6% to DKK 79.2 billion, which is 4% at CER, Alliance News reported. Sales of the Wegovy pill reached DKK 5.39 billion, ahead of analysts' estimates. Novo said the pill should be available in more than 20 markets next year, The West Australian reported. Total obesity sales rose 22% at CER. Part of the profit gain reflects an easy comparison, because Novo booked DKK 9 billion in restructuring costs in the third quarter of 2025, RTTNews noted.thewest.com.au+2

Net profit still fell 16% to DKK 16.74 billion. Reported operating profit dropped 9% at CER after impairment charges. Fierce Biotech reported that total major impairments came to DKK 15 billion, including DKK 4.6 billion tied to the failed heart drug ziltivekimab and DKK 4 billion for scrapping the obesity candidate monlunabant, according to Fierce Biotech. Chief Financial Officer Karsten Munk Knudsen called the charges one-offs. Novo also said Knudsen will leave at the end of December and that Luigi La Corte of Galderma will succeed him, The West Australian reported.fiercebiotech.com+1

CagriSema and deal-making

Novo is preparing to launch CagriSema in the US in early 2027 if regulators approve it. Its earnings documents point to an FDA decision before the end of this year. "We are not waiting for approval to get ready," Doustdar told journalists, Fierce Biotech reported. Asked whether investors were underwhelmed by Novo's deal-making, he said the company is still searching for assets that close "some of the gaps that we have." He added that it is "not about running and making sure we close a certain number of deals just to satisfy the headline news."fiercebiotech.com

Novo is still competing with Eli Lilly ↗ 0.37%, which raised its own forecast last week. Investors worry that CagriSema, which produced less weight loss in trials than many expected, will fall short of Lilly's next-generation drugs. Doustdar cited "a clear turnaround in patient volumes" and said, "We are going in the right direction, and we'll just have to continue working hard to see the recovery in full," according to The West Australian.thewest.com.au