Novo Nordisk has raised its full-year 2026 outlook for adjusted sales and operating profit following a stronger-than-expected third quarter, powered by sustained demand for its GLP-1 medicines, particularly across its obesity portfolio.

 

The Danish drugmaker reported a 4% increase in both adjusted and reported sales in Q3 2026 at constant exchange rates (CER), driven by continued GLP-1 volume growth across its US and international operations.

 

Adjusted operating profit surged 27% at CER, supported by robust GLP-1 sales and a favourable comparison with the previous year, when the company recognised DKK 9 billion in company-wide transformation costs in Q3 2025.

 

However, reported operating profit fell 9% at CER, weighed down by DKK 8.7 billion in non-cash impairment charges. These included DKK 4.6 billion related to ziltivekimab and DKK 4.1 billion associated with the right-sizing of the company's manufacturing network.

 

 

Wegovy's expanding market presence emerged as a key commercial highlight. By the end of the third quarter, the pill had launched in the US, UAE, UK and Germany, generating sales of DKK 5,394 million during the quarter. Launches in four additional countries subsequently took the total number of markets to eight.

 

The Wegovy franchise also retained its leadership position in the US obesity market, accounting for more than 50% of branded obesity market new patient starts.

 

Meanwhile, Novo Nordisk's Ozempic pill, launched in the US in May, is gaining early traction. Weekly new-to-brand prescriptions (NBRx) are currently around 100% higher than pre-launch levels under the Rybelsus brand.

 

The company is also pushing ahead with the international roll-out of Ozempic 2.0 mg and the Wegovy 7.2 mg single-dose pen.

 

CagriSema delivers encouraging clinical results

 

Novo Nordisk reported further progress across its development pipeline, with CagriSema delivering notable results in both obesity and type 2 diabetes.

 

In the REDEFINE 9 obesity trial, CagriSema (1.0/1.0 mg) achieved 21% weight loss at week 68, while the company initiated the phase 3 AMAZE 9 trial of oral zenagamtide in September.

 

In diabetes, the REIMAGINE 5 trial showed CagriSema delivering superior weight loss of 12.4%, compared with 9.1% for tirzepatide 5 mg, alongside non-inferior HbA1c reduction at week 60 in adults with type 2 diabetes and obesity.

 

The company's blood and endocrine disorders pipeline also advanced. Frehemgo (denecimig) received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) on September 17. Subject to full EU approval, the first European launches are planned around the turn of the year.

 

In the US, regulatory review of denecimig remains ongoing, with a launch anticipated in the first half of 2027, pending a regulatory decision.

 

 

Reflecting stronger expectations for GLP-1 product sales, Novo Nordisk has raised its 2026 guidance. Adjusted sales growth and adjusted operating profit growth are now both expected to range between -2% and +2% at CER.

 

Commenting on the performance, Mike Doustdar, president and CEO of Novo Nordisk, said: "We delivered a stronger-than-expected third quarter and are raising our full-year outlook for adjusted sales and adjusted operating profit. We are particularly pleased to see both US Operations and International Operations deliver sales growth this quarter. 

 

"Growth was led by our obesity portfolio, with continued uptake of Wegovy pill in the US and encouraging early launches internationally. Our focus is on sustaining this progress through disciplined execution and broader access to our medicines. We are also advancing our pipeline and preparing for the US launch of CagriSema in early 2027, subject to regulatory approval."

 

The latest results underline the growing contribution of Novo Nordisk's obesity portfolio to its commercial performance, as the company seeks to strengthen its position in the increasingly competitive global GLP-1 market while advancing its next generation of obesity and diabetes treatments.