CEO Mike Doustdar told CNBC that while the company has experienced weak growth in the past due to pricing, volumes have grown ‘phenomenally.’
- Novo reported 4% sales growth in CER in Q3 at DKK79.20 billion, beating Wall Street’s estimates of DKK73.40 billion, according to Fiscal.ai.
- The company expects adjusted sales and operating profit growth between -2% and +2% at CER in FY2026.
- Novo attributed the improved outlook to stronger expectations for GLP-1 drug sales.
Novo Nordisk (NVO) CEO Mike Doustdar downplayed concerns about tougher U.S. drug-pricing regulations following the Democrats’ midterm election victory, saying he does not expect major changes to the company’s business.
Speaking to CNBC on Wednesday, Doustdar added that Novo has worked with lawmakers from both parties to make drug prices more affordable. He added that while the company has experienced weak growth in the past due to pricing, volumes have grown “phenomenally.”
“The volumes have been growing phenomenally. That’s actually when you take the pill even out of this equation and look at the injectable, volumes are growing incredibly healthy. Now, the reason it grows is because we made our products more affordable,” Doustdar said.
“So that’s a fair balance, and we will work with both Republicans, as well as Democrats, on that agenda. So, I don't foresee that our world will change dramatically,” he added.
Novo’s Pricing In Focus
His comments come amid concerns that Democrats could push for further drug-price reductions following victory in the midterm elections.
The company plans to reduce U.S. list prices for Wegovy and Ozempic to $675 per month starting January 2027, representing cuts of about 50% and 35%, respectively.
NVO shares jumped 5% in premarket trading on Wednesday, putting the stock on track for its biggest single-day gain since June, after the Danish drugmaker reported stronger-than-expected third-quarter topline and raised its full-year outlook.
Novo Raises FY2026 Earnings Outlook
Novo reported 4% sales growth in constant exchange rates (CER) in Q3 at DKK79.20 billion ($11.93 billion), beating Wall Street’s estimates of DKK73.40 billion, according to Fiscal.ai. Operating profit fell 9% at CER, due to DKK8.7 billion in non-cash impairment charges.
According to CNBC, sales of its Wegovy pill, launched earlier this year, came in at DKK 5.4 billion, while sales of injectable Wegovy and Ozempic were DKK20.4 billion and DKK29.7 billion.
The company now expects adjusted sales and operating profit growth between -2% and +2% at CER in full year 2026, compared with its previous forecast of a 6% decline to flat growth. Novo attributed the improved outlook to stronger expectations for GLP-1 drug sales.
Retail Bulls Eye $100
Retail sentiment surrounding NVO on Stocktwits turned ‘bullish’ from ‘neutral’ over the past 24 hours, amid ‘high’ message volumes. NVO was also among the top trending tickers at the time of writing.
One user expects the stock to climb to $100 based on its improved outlook. NVO is currently trading at around $41.
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NVO shares are down 18% so far in 2026, significantly underperforming rival Eli Lilly’s 30% gains.
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