Novo Nordisk Q2 2026 profit beats forecasts and raises full-year outlook

Novo reported Q2 2026 adjusted sales of DKK 78,488 million, up 7% at constant exchange rates, and adjusted operating profit of DKK 33,389 million, up 11%. Operating profit came in well above a company-compiled consensus of about DKK 28.7 billion. Full-year 2026 adjusted sales and operating profit growth guidance rose to a range of 0% to -6% at constant exchange rates from -4% to -12%, and free cash flow guidance rose to DKK 45-55 billion. Growth rates exclude a one-time benefit from US 340B provision reversals.

• Q2 adjusted sales DKK 78,488 million, +7% at CER
• Q2 adjusted operating profit DKK 33,389 million, +11% at CER versus a poll mean of DKK 28.74 billion
• 2026 adjusted sales and operating profit growth now 0% to -6% at CER (was -4% to -12%)
• 2026 free cash flow now expected at DKK 45-55 billion (was DKK 36-46 billion)
• Q2 Wegovy pill sales DKK 3,218 million; DKK 6.3 billion of non-cash impairments on pipeline assets