Novo raises 2026 outlook as Wegovy pill beats forecasts

Novo Nordisk reported third-quarter 2026 results at 1:30 a.m. Eastern on November 4, 2026, and raised its full-year outlook for adjusted sales and adjusted operating profit. Net sales were DKK 79,195 million, up 4% at constant exchange rates (CER). Adjusted operating profit was DKK 31,720 million, up 27% at CER.

President and CEO Mike Doustdar said in the release: “We delivered a stronger-than-expected third quarter and are raising our full-year outlook for adjusted sales and adjusted operating profit.” The company scheduled an earnings call for 1:00 p.m. CET / 7:00 a.m. Eastern; this story is based on the written release and secondary reporting published with it, not on call commentary.

The print sits next to Eli Lilly’s Q3 raise a week earlier. Both companies are leaning on oral and injectable GLP-1 demand while revising 2026 guidance.

The numbers behind the raise

Reported operating profit fell 9% at CER to DKK 23,011 million. Novo said that decline reflected DKK 8.7 billion of non-cash impairment charges in the quarter: DKK 4.6 billion related to ziltivekimab and DKK 4.1 billion for right-sizing the manufacturing network.

Adjusted operating profit’s 27% CER rise was helped by an easy comparison. The release cites a favorable base after DKK 9 billion of company-wide transformation costs recognized in Q3 2025.

CNBC, citing FactSet estimates, said Wall Street had expected about DKK 73.6 billion in sales and DKK 28.6 billion in adjusted operating profit. On those benchmarks, Novo cleared both bars. A Reuters item carried on Investing.com likewise said third-quarter adjusted operating profit came in above expectations.

Wegovy pill, Ozempic pill and U.S. share

Wegovy pill sales were DKK 5,394 million in Q3. By the end of the quarter Novo had launched the pill in the United States, the UAE, the United Kingdom and Germany. More recent launches in four additional countries brought the total to eight markets. CNBC said the FactSet consensus for the pill was roughly DKK 4.5 billion, so the print beat that bar as well.

Novo said the Wegovy franchise held more than 50% of U.S. branded obesity new-patient starts.

The Ozempic pill launched in the United States in May. Novo said weekly new-to-brand prescriptions are currently up around 100% compared with pre-launch levels under the Rybelsus brand.

CNBC separately reported injectable Wegovy sales of DKK 20.4 billion and Ozempic sales of DKK 29.7 billion, both above that outlet’s cited expectations. Those injectable lines are not broken out the same way in the GlobeNewswire highlights Amino Wire used as the primary record.

Guidance and leadership

Adjusted sales growth for 2026 is now expected at -2% to +2% at CER, and adjusted operating profit growth is also -2% to +2% at CER. Novo said the improved outlook is driven by higher expectations for GLP-1 product sales. CNBC reported that the prior range, which Novo had raised in August, was -6% to flat for both metrics.

CNBC also reported that Chief Financial Officer Karsten Munk Knudsen will leave at the end of 2026 after 27 years at the company, including nine as CFO, and that Luigi La Corte, currently Galderma’s CFO, will succeed him. Shares rose as much as 6% in early trading, CNBC said; Copenhagen-listed shares were later seen up about 3.4%.

Pipeline notes in the release

The earnings package listed recent obesity and diabetes pipeline readouts:

• In obesity, CagriSema delivered 21% weight loss at week 68 in the REDEFINE 9 trial.
• In REIMAGINE 5, in adults with type 2 diabetes and obesity, CagriSema showed 12.4% weight loss versus 9.1% for tirzepatide, with non-inferior HbA1c reduction at week 60.
• The AMAZE 9 phase 3 trial of oral zenagamtide started in September.
• Novo said it is preparing for a U.S. launch of CagriSema in early 2027, subject to regulatory approval.

What is not known

• Call detail. The webcast was set for 7:00 a.m. Eastern today. This article does not cover what management said on the call beyond quotes already in CNBC’s report.
• How durable the pill run-rate is. One quarter of Wegovy pill sales above FactSet consensus is a data point. Novo did not, in the GlobeNewswire highlights, break out U.S. versus international pill revenue or provide a full-year pill target.
• Impairment aftermath. The release records DKK 8.7 billion of non-cash charges tied to ziltivekimab and manufacturing right-sizing. It does not spell out cash effects or further write-downs beyond that quarter.
• List-price changes. Some secondary summaries have discussed U.S. list-price moves for Wegovy and Ozempic. Amino Wire could not verify those figures in the GlobeNewswire release or on Novo’s financial-results page, so they are omitted here.

This story summarizes company-reported financial results and pipeline updates. It is not investment advice.