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(Sharecast News) - Danish drug maker Novo Nordisk lifted its full-year guidance on Wednesday as it pointed to continued momentum in GLP1s.
The company now expects 2026 adjusted sales and operating profit to decline by 2% at constant exchange rates in a worst case scenario, or rise by 2% in a best case scenario, having previously guided to a drop of as much as 6% for both.
"The improved outlook is driven by increased expectations for GLP-1 product sales," it said.
For the third quarter, it posted a 4% rise in adjusted and reported sales to DKK79.2bn, driven by continued GLP-1 volume growth across the US and international operations, mainly in obesity.
Adjusted operating profit rose 27% to DKK31.7bn, mainly due to GLP-1 sales growth and a favourable comparison base following DKK9bn of company-wide transformation costs recognised in the third quarter of 2025.
By the end of the third quarter, the Wegovy pill had been launched in the US, UAE, UK and Germany, with uptake driving Q3 sales of DKK5.39bn.
President and chief executive Mike Doustdar 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."
At 0930 GMT, the shares were up 4.2% at DKK281.60.
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