Danish pharmaceutical company Novo recorded net profit of 86.286 billion crowns (11.545 billion euros) in the first nine months of 2026, which represents a 14% increase compared with the same period of the previous year for the owner of "Ozempic" and "Wegovy", which has revised its projections upward for the full year.
Between January and September, Novo’s net turnover reached 254.506 billion crowns (34.051 billion euros), 11% higher than a year earlier. This growth was supported by an 18% rebound in the obesity area, which added 70.210 billion crowns (9.394 billion euros), while the diabetes division fell 7%, to 142.910 billion crowns (19.120 billion euros).
In the first nine months of 2026, sales of the injectable presentation of the "Wegovy" medicine advanced 2%, to 58.126 billion crowns (7.777 billion euros), to which were added 10.868 billion crowns (1.454 billion euros) from its tablet version.
For its part, "Ozempic" billing decreased by 5% year-on-year, to 88.906 billion crowns (11.895 billion euros), while sales of the oral format of this drug fell 12%, to 14.738 billion crowns (1.972 billion euros).
In the third quarter, that is, between July and September, the Danish company posted net profit of 16.740 billion crowns (2.240 billion euros), representing a 16% decline compared with the earnings achieved a year earlier. However, net income for the period increased by 6% year-on-year, to 79.195 billion crowns (10.596 billion euros).
"We have achieved better results than expected in the third quarter and we are raising our forecasts for the full year in terms of adjusted sales and adjusted operating profit", said Mike Doustdar, chairman and CEO of Novo, who highlighted the dynamism of both the business in the United States and of international operations during the third quarter, supported by the portfolio of obesity treatments, with sustained acceptance of the Wegovy pill in the US and promising initial launches in other markets.
Thus, in light of the improvement in sales prospects for GLP-1 products, Novo has raised its forecast for adjusted sales growth for 2026, which it now places in a range of between -2% and +2% at constant exchange rates, versus the previous range of between -6% and 0%.
Similarly, the group expects the increase in adjusted operating profit to also move between -2% and +2% at constant exchange rates, when previously it was handling a band of between -6% and 0%.
Change in the finance leadership
At the same time, Novo has announced the departure at the end of December of Karsten Munk Knudsen, executive vice president and the company’s chief financial officer since 2018, and the appointment of Luigi La Corte as the new executive vice president and responsible for finance.
The Danish company has stated that Karsten Munk Knudsen’s departure takes place by mutual agreement and that the executive will explore new professional opportunities following a career of 27 years at Novo, which he joined in 1999.
It has also highlighted that Luigi La Corte brings more than 30 years of experience in international financial leadership positions in the health and mass consumer sectors, and that he currently serves as chief financial officer of Galderma, a company focused on dermatology.