Novo Nordisk Improves 2026 Outlook; Q2 Adjusted Sales Up 7%, Operating Profit Up 11%

Second-quarter adjusted sales came in at 78.49 billion Danish kroner, up 3% year on year at constant exchange rates. The company also raised its full-year outlook: for 2026, adjusted sales and operating profit are now expected to change by between 0% and negative 6% at constant exchange rates, compared with a previously forecast decline of 4% to 12%. After the announcement, Novo Nordisk's US-listed shares fell as much as 6.4% in intraday trading. By product line, second-quarter adjusted sales were 31.38 billion Danish kroner for Ozempic, 19.48 billion for Wegovy injection, and 3.22 billion for Wegovy oral. Since its launch in January 2026, Wegovy oral prescriptions have exceeded 5 million. The reported adjusted profit excludes a one-off non-cash impairment charge of 6.3 billion Danish kroner in the second quarter, of which about 4 billion relates to the impairment of intangible assets tied to the oral experimental weight-loss drug monlunabant. On July 21, Novo Nordisk sued US competitor Eli Lilly, accusing it of misleading advertising for its injectable drugs Zepbound and Mounjaro. Lilly denied the allegations, saying its advertisements are truthful and reliable. Competition between the two drugmakers in the weight-loss market continues to intensify.