Novo Nordisk Lifts 2026 Outlook as Wegovy Pill Prescriptions Top 265,000 Weekly
NVO sits 26% above its 52-week low of $35.12 on elevated volume (3.6× avg).
Summary
Novo Nordisk raised its 2026 adjusted sales and operating profit outlook to 0% to -6% at CER, up from -4% to -12%, driven by surging Wegovy pill prescriptions in the US. Q2 adjusted operating profit rose 11% at CER, but non-cash impairment charges of DKK 6.3 billion and the ZEUS trial failure weighed on reported results.
Key Events · Earnings and Guidance · NVO
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2026 Guidance Raised
Full-year adjusted sales and operating profit growth is now expected at 0% to -6% at CER, up from -4% to -12%, driven by increased GLP-1 product sales expectations.
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Wegovy Pill Prescriptions Surge
Weekly US prescriptions exceeded 265,000 for the week ending July 17, with total prescriptions since launch surpassing 5 million, making it the strongest GLP-1 volume launch ever.
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Q2 Adjusted Operating Profit Up 11%
Adjusted operating profit reached DKK 33,389 million, up 11% at CER, driven by 7% adjusted sales growth, partly offset by lower realized prices and one-time manufacturing capacity costs.
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Non-Cash Impairment Charges
Reported operating profit was hit by DKK 6.3 billion in non-cash impairment charges, including DKK 4.0 billion for the discontinued monlunabant program, and the ZEUS trial failure may lead to further impairments in Q3.
Analysis · NVO · Life Sciences
A strong second quarter saw adjusted operating profit climb 11% at constant exchange rates, fueled by rapid US uptake of the Wegovy pill. In response, management raised the full-year 2026 guidance for both adjusted sales and operating profit to a range of 0% to -6% at CER—a marked improvement from the prior -4% to -12% range. The Wegovy pill is now recording over 265,000 weekly prescriptions in the US, with total prescriptions since launch exceeding 5 million, making it the strongest GLP-1 volume launch ever. This momentum helps offset headwinds from lower realized prices, including the Most Favoured Nations agreement in the US and semaglutide loss of exclusivity in some international markets. The quarter also included a DKK 6.3 billion non-cash impairment charge, primarily for the discontinued monlunabant program, and the ZEUS trial failure for ziltivekimab, which may lead to further impairments in Q3. Despite these setbacks, the core obesity franchise is accelerating: Wegovy HD launched in the US, and both the Wegovy 7.2 mg single-dose pen and Wegovy pill received EU approval. The raised guidance and strong commercial execution signal that the company is successfully navigating pricing pressures and competition, though the impairment and pipeline setback temper the positive news.
At the time of this filing, NVO was trading at $44.37 on NYSE in the Life Sciences sector, with a market capitalization of approximately $205.8B. The 52-week trading range was $35.12 to $64.16. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.