Novo Nordisk Shares Tumble On Q4 Miss, Weak Sales Forecast And Competition Concerns

The drugmaker now expects fiscal 2026 adjusted sales down 5% to 13%.

Shares of Danish drugmaker Novo Nordisk (NVO) plummeted 14% on Tuesday after the company said that it sees fiscal 2026 adjusted sales down 5% to 13% as it gears up to face pricing headwinds and a competitive market.

The updated guidance comes on the heels of the company reporting full-year 2025 net sales of DKK309.06 billion ($48.94 billion), up 6% year-over-year, but below an analyst estimate of DKK 346.97 billion.

Diluted earnings per share for the year came in at DKK23.03, up from DKK22.63 in 2024, and below a Wall Street estimate of DKK23.4.

CEO Mike Doustdar said that 2025 was a "challenging year” for the company.

“However, we are very encouraged by the promising early uptake from the US launch of Wegovy® pill, and we remain confident in our ability to drive volume growth over the coming years,” Doustdar said.

“Also for this year, we look forward to regulatory decisions for next-generation treatments, such as Mim8 within haemophilia and CagriSema within obesity, as well as a number of exciting R&D read-outs, including phase 3 read-outs for etavopivat and ziltivekimab," he added.

Novo got the approval of the U.S. Food and Drug Administration (FDA) for Wegovy pill in December last year and launched it in early January. The drug has had a great kickstart so far.

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