Here's the hot stuff from Novo Nordisk
$NOVO B (+4,26 %) / $NOVO-B Q2 2026 Earnings Release, fresh from Bagsværd:
🚀 Top-line Performance & GLP-1 Booster
Novo Nordisk is gaining significant momentum in the second quarter of 2026 with its blockbuster obesity and diabetes drugs, posting robust revenue growth:
Adjusted total revenue: Climbed by +7% CER (at constant exchange rates) to 78.49 billion DKK.
Wegovy pill takes off: The Wegovy pill, launched in the U.S. at the beginning of the year, is rapidly expanding its market share and has surpassed the mark of 265,000 weekly prescriptions.
Growth drivers: Unabated strong demand for the GLP-1 medications Wegovy and Ozempic largely offsets price pressure in the U.S.
🔮 Profitability & One-Time Charge
Operating leverage continues to take effect in the core business, but is masked on the books by a pipeline impairment charge:
Adjusted Operating Profit: Increased by +11% CER to 33.39 billion DKK —meaning the core operating business continues to generate reliable profits.
Impairment charge: Novo recorded a non-cash special impairment charge of DKK 6.3 billion on development assets (of which DKK 4.0 billion to the obesity asset Monlunabant accounts for this amount aloneaccording to current study data).
🤖 2026 Full-Year Forecast Raised (Guidance Upgrade)
Thanks to strong demand and high sales figures in the first half of the year, management is significantly raising the bar for the full year 2026:
Forecast Upgrade (Adjusted): Adjusted revenue and profit growth for the full year 2026 is now projected to be 0% to -6% CER (a significant improvement over the previous range of -4% to -12% CER).
Unadjusted Outlook (Midpoint): On a reported basis, management now estimates full-year revenue and operating profit growth at approximately +5% and +12%, respectively, on a CER basis.
⚡ 💡 Jack’s Take
A reassuring and strong signal from the Danish pharma market leader! Demand for Wegovy and Ozempic is red-hot, and the rush for the Wegovy pill is exceeding expectations. The fact that the full-year forecast is being raised significantly despite fierce competition and price pressure demonstrates the company’s incredible operational strength. While the special write-down on monlunabant hurts the balance sheet, it doesn’t change the fact that Novo Nordisk is successfully defending its market leadership in the GLP-1 market!
