Novo Nordisk shares dropped more than 5% on Tuesday as investors reacted to the company's updated 2026 guidance. While the Danish pharmaceutical giant raised its outlook for the remainder of the year, the specific details regarding sales and profit margins failed to meet market expectations.
The firm now expects adjusted sales to remain between down 6% and flat at constant exchange rates. This revision follows a previous estimate that projected declines between 4% and 12%. Similarly, the company adjusted its operating profit forecast to a range of down 6% to flat, narrowing the previous guidance which anticipated a sharper drop.
Financial data for the first half of 2026 highlights the ongoing competitive pressure in the weight loss drug market. Second-quarter sales reached 78.49 billion kroner, marking a 3% increase in constant currency. Adjusted operating profit for the same period rose 11% to 33.39 billion kroner.
CEO Mike Doustdar emphasized the company's performance regarding new product rollouts. The launch of a pill version of Wegovy has resulted in over 5 million prescriptions since its introduction in January. This move was intended to help the company recover market share against Eli Lilly, which remains its primary competitor in the GLP-1 sector. Investors are now looking toward the formal earnings report scheduled for Wednesday, which coincides with the release of results from Eli Lilly.