1D·

Novo Nordisk under pressure: Significantly weaker forecast for 2026 sends share price plummeting

The next setback for Novo Nordisk: The Group is significantly lowering its expectations for 2026.

After sales increased by around 10% in 2025, the company is now forecasting a decline of 5% to 13% for 2026. The forecast is therefore clearly below the market consensus of around -1.6 %.

Novo Nordisk also expects a comparable decline in adjusted operating earnings.

While growth is expected to continue outside the USA, business in the United States is likely to come under pressure. The main drivers are lower sales prices as a result of the "Most Favored Nations" regulation and the loss of exclusive rights for semaglutide in individual regions. The expansion of Wegovy is nevertheless to be continued consistently.

By way of comparison, Wegovy sales in the past financial year amounted to DKK 79.11 billion, slightly above expectations of DKK 78.2 billion.

On the stock market, the share reacted with a discount of around 11% 📉

36 Comments

Olli@Olli68

This has been going on for 2 years now and it won't stop. 😂

•

Tjakos@Agent007

@Olli68 Yes we get it, you're not a friend of Novo 😅 did she hurt you that much? 🤣

••

Olli@Olli68

@Agent007 No, not really. I even had them until 2 years ago. But then I sold them for 120 euros.

••

Daniel@Daniel1212

@Olli68 I'm already looking forward to when it reaches triple digits again 👍🏻

•

Olli@Olli68

@Daniel1212 I am happy for you. As I'm already over 50, I probably won't live to see it. 😒

•

Daniel@Daniel1212

I've already reached 40. My entry price is 50, so it should still be possible to double it. Otherwise, I'm looking forward to a decent dividend for the time being

••

Olli@Olli68

@Daniel1212 Doubler at a company with a shrinking business and ever-increasing net debt? You are brave. 👍

••

Daniel@Daniel1212

That's what they say 😅

••

Max Silberberg@Maxxey

@Olli68 you don't seriously believe what you write hahah

•

Olli@Olli68

@Daniel1212 Who said that? Today they first said that sales and profits should shrink.

••

Olli@Olli68

@Maxxey Doch. 😊

•

View one more answer

Chris@Multibagger

I don't even know why there are still so many fans of this chip shop. They always miss the targets they set themselves.

•

Show answer

Nemesis1990@Nemesis1990

Short bought earlier already at 100 percent plus 🤣

•

Fatboy2050@Fatboy2050

@Nemesis1990 Had a premonition, or bought because of the news?

••

Nemesis1990@Nemesis1990

@Fatboy2050 I was convinced that tomorrow's figures would not be suitable, so I opened one and sold it earlier with a 124 percent gain. I could have let it run until tomorrow, but I'd rather hedge my profits, even if it could go even lower tomorrow

•

StArGiAnT@StArGiAnT

16H

I also had a short, unfortunately too late last night. I couldn't strike because trading was temporarily suspended. Sold with a return of 30 euros ^

••

Gerald@Irlandfan

Last year I thought 100 would go through soon, well, at 20 I'm thinking about getting in, the test tubes should still be worth a few cents.

•

MEMO@MEMO1993

I'm getting back in with a small position at around 35-30 euros. And I hope that most people have taken the up trend with them, I sold my last 25k at 48 euro (EK 40~) because the hype after the pill simply went too fast for me again and we didn't hold the +52 euro mark. I'm still bullish in the long term and will stay in if the price suits me

•

Philipp@PS24

@MEMO1993 had also thought about it for a long time, unfortunately too long. I'm still up right now, but let's see how much longer 🥴

••

MEMO@MEMO1993

21H

@PS24 Yes, it's just difficult, I sometimes think about it for days and weeks + for beginners. Not easy.

••

M3nt4list@M3nt4list

I am adopting a neutral wait-and-see stance. Neither anti-cyclical purchases nor panic selling seem sensible to me at present. Fundamentally, the share is attractively valued with a P/E ratio of around 16. However, it remains to be seen whether the weak forecast for 2026 is a conservative calculation or a structural warning signal. Tomorrow's results from competitor Eli Lilly will serve as an important indicator here. For now, I'll treat myself to a delicious whisky (Lagavulin 16) to digest. Cheers! 🫡🥃

•

SemiGrowth@SemiGrowth

Please mention that it is adjusted. The unadjusted forecasts are -1% sales and +11% EBIT.
Both are above expectations.
Buy?

•

Olli@Olli68

@SemiGrowth The forecast is responsible for the fall in the share price. Sales shrink by 5-13% instead of the expected 1.4%.

••

SemiGrowth@SemiGrowth

@Olli68 No, adjusted sales are falling. But total sales should only fall by 1%, if you have read the report

••

Olli@Olli68

@SemiGrowth I had just read 5-13%. But I could be wrong, as I was just walking through the spirits section in the supermarket. You'll have to excuse me, I'm an older man. 🙄

••

SemiGrowth@SemiGrowth

@Olli68 Yes, that is correct, but they have said that they are now factoring out the one-off effects (previously they were included). Subsidies amounting to USD 4.2B were not taken into account. If these are included, you end up with the aforementioned -1% sales and +11% EBIT

••

Olli@Olli68

@SemiGrowth No, seriously. If you factor out the one-off payment from the USA of $4.2 billion (I'm not sure of the amount), which you should do in order to compare, you arrive at the corresponding shrinkage.

••

SemiGrowth@SemiGrowth

@Olli68 Yes, that's true, but surely it should already have been priced in?

••

Olli@Olli68

@SemiGrowth No. They only want to report non-IFRS from 2026. Hence the confusion.

••

Pascal@Pacco93

Fortunately, I recently sold the share at a profit at around 48 euros. Away with the share 😂

••

Muza@Muza

Sold yesterday at 50 euro/stock