Novo Nordisk shines in Copenhagen, with the market rewarding its results and the upward revision of its guidance
In the third quarter, the pharmaceutical group reported a 4 per cent rise in revenue to 79.19 billion Danish kroner, exceeding analysts’ forecasts
(Il Sole 24 Ore Radiocor) - Novo Nordisk in the spotlight on the Copenhagen Stock Exchange following its third-quarter results and the upward revision of its guidance. The pharmaceutical giant reported a 4 per cent rise in revenue to 79.19 billion Danish kroner (10.6 billion euros) in the third quarter, whilst operating profit fell by 9 per cent to 23 billion kroner (3.1 billion euros). Adjusted operating profit, however, rose by 27 per cent to 31.7 billion Danish kroner.
The pharmaceutical group has revised its full-year forecasts upwards, projecting adjusted revenue growth of between -2 per cent and +2 per cent at constant exchange rates, with adjusted operating profit expected to follow a similar trend (-2 per cent to +2 per cent). “The improved outlook is driven by higher expectations regarding sales of GLP-1-based products”, such as Wegovy, which are used in particular to treat diabetic or overweight patients, the company said. “We are particularly pleased to note that both our US and international operations recorded revenue growth this quarter,” said Chairman and CEO Mike Doustdar. “Growth was driven by our obesity portfolio, thanks to the continued roll-out of the Wegovy pill in the US and encouraging initial launches internationally. Our aim is to sustain this progress through rigorous execution and wider access to our medicines,” he added, emphasising that the company is preparing for the launch “of CagriSema in the US in early 2027, subject to regulatory approval”.
Analysts’ earnings estimates for Novo Nordisk are set to rise by around 3 per cent following the release of better-than-expected third-quarter results and an upward revision to its guidance for 2026, according to analysts at J.P. Morgan. In fact, sales exceeded forecasts by 8%, whilst operating profit beat the consensus by 12%, thanks to better-than-expected results across all divisions and a positive price adjustment of 2 billion Danish kroner in the US, the analysts note. The experts also point out that the midpoint of the new guidance implies adjusted sales of 306.42 billion Danish kroner and adjusted operating profit of 125.01 billion, both of which are 3 per cent higher than current consensus estimates.
