health
February 3, 2026
Novo Nordisk shares tumble after company warns of sales hit this year
The company is banking on its Wegovy pill and next-generation weight loss injectable CagriSema to recapture share of the key U.S. market.
TL;DR
- Novo Nordisk's U.S. shares fell sharply following a projection of declining sales and profit growth for the year.
- Factors contributing to the downturn include lower U.S. prices and the loss of exclusivity for Wegovy and Ozempic in China, Brazil, and Canada.
- The company forecasts a sales and operating profit decline of 5%-13% at constant exchange rates for 2026, worse than anticipated by analysts.
- Novo Nordisk is facing increased competition in the weight-loss drug market.
- The launch of the oral version of Wegovy in the U.S. is noted as a positive development.
- Semaglutide, the active ingredient in Wegovy and Ozempic, will lose exclusivity in Canada, Brazil, and China in 2026.
- Pricing pressure in the U.S. market and competition from Eli Lilly's tirzepatide (Mounjaro and Zepbound) are significant challenges.
- Novo and Eli Lilly agreed with the Trump administration to cut prices for their best-selling drugs for Medicare and Medicaid in 2026.
- Fourth-quarter net sales were 79.1 billion Danish kroner, slightly above expectations, while operating profit was largely in line with estimates but down 14% year-on-year.
- Ozempic sales increased 1% and Wegovy sales increased 17% in the fourth quarter at constant exchange rates.
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