Novo Nordisk says profits and sales may fall amid U.S. drug pricing push

Novo Nordisk warned its 2026 adjusted operating profit and sales could decline 5–13% as U.S. pricing pressure, rising competition and patent expiries weigh on Wegovy sales.

Novo Nordisk warned on Tuesday that adjusted operating profit and adjusted sales could fall between 5% and 13% in 2026. The company said lower realized prices in the U.S., stronger competition in the obesity-drug market and patent expiries on semaglutide in some markets have hurt its outlook. Wegovy’s launch in 2021 had driven years of double-digit gains for the Danish company, and the article mentions U.S. drug-pricing agreements under President Donald Trump as adding pricing pressure. Known details: - Novo Nordisk announced a 2026 guidance range of a 5%–13% decline in adjusted operating profit and adjusted sales. - The company cited lower U.S. realized prices, intensified competition in obesity drugs and semaglutide patent expiries; global Wegovy sales fell about 12% in the latest quarter. - U.S.-listed Novo shares fell around 12% after the statement, and the company has seen a substantial reduction in market value since mid-2024. - Management is scheduled to speak to analysts on Wednesday; the company also named two executive departures and their replacements. Summary: The warning signals a break from years of rapid growth and reflects price and competitive headwinds, particularly in the U.S. Management will discuss the outlook with analysts on the scheduled call Wednesday to explain implications and strategy.