By Dominic Chopping
Novo Nordisk is scheduled to report results for the fourth quarter on Wednesday. Here is what you need to know:
PROFIT FORECAST: Net profit is expected to fall 9.6% to 25.52 billion Danish kroner ($4.03 billion), according to a FactSet poll.
SALES FORECAST: A FactSet poll forecasts sales falling to 76.85 billion kroner from 85.68 billion kroner a year earlier.
Shares have fallen 39% in the past 12 months to around 372.90 kroner.
WHAT TO WATCH:
--The overriding focus of the report will be on 2026 guidance, with Sydbank senior analyst Soren Lontoft Hansen expecting the company to guide for a full-year revenue drop of between 1% and 9% in local currency, and an operating profit fall of between 3% and 11%. The prospect of a negative currency effect will further reduce growth in kroner terms, he added.
--Novo Nordisk faces several headwinds this year, Sydbank said. These include copycat versions of its blockbuster drugs in the U.S.; competition from Eli Lilly; declining sales of diabetes drug Ozempic in the U.S.; patent expirations for the key ingredient in Ozempic and Wegovy in Canada, Brazil and China; and pricing pressure after the U.S. administration deal to lower drug prices.
--The progressing Wegovy weight-loss pill launch will also be in focus, with a key question being the margin contribution given its lower price point, UBS analyst Matthew Weston wrote.
--Sales of the Wegovy obesity shot are expected to make a significant contribution to fourth-quarter earnings, driven by high demand and market expansion outside of the U.S. However, continued challenges with compound manufacturers and competition from Eli Lilly could dent sales in the U.S., Sydbank's Hansen said.
--Analysts at Jefferies model fourth-quarter Wegovy sales of 21.19 billion kroner and Ozempic sales of 29.27 billion kroner.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
February 03, 2026 06:47 ET (11:47 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments