The company narrowed its 2026 forecast, projecting adjusted sales to range from a 6% decline to flat growth at constant exchange rates. This revision replaces a previous, wider guidance of a 4% to 12% drop. Similar adjustments were made to operating profit targets, which are now expected to follow the same 6% decline-to-flat trajectory.
The market reaction arrives ahead of the official second-quarter earnings report, scheduled for release Wednesday alongside competitor Eli Lilly’s results. For the first half of 2026, Novo Nordisk reported sales of 78.49 billion kroner, or $12.09 billion, marking a 3% increase in constant currency. Adjusted operating profit for the period climbed 11% to 33.39 billion kroner.
CEO Mike Doustdar emphasized the company’s efforts to reclaim market share in the GLP-1 sector, specifically highlighting the launch of the pill version of Wegovy. Since its January debut, the oral medication has surpassed 5 million prescriptions. This move, combined with the release of a higher-dose Wegovy injection, represents a tactical effort to challenge Eli Lilly’s lead established by its Zepbound and Mounjaro product lines.
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