Novo shares fall about 6% despite raised outlook on Wegovy pill sales miss

Novo's US-listed shares fell about 6% on 4 August, the day the company beat profit forecasts and raised its 2026 outlook. Investors focused on Wegovy pill sales of DKK 3.22 billion, slightly below the roughly DKK 3.3 billion analysts expected, and on the CagriSema head-to-head result against tirzepatide. Barclays cited a soft pill performance, short-term investor positioning and the CagriSema trial as the drivers.

• NVO down about 6% in US trading on 4 August 2026
• Wegovy pill sales DKK 3.22 billion versus roughly DKK 3.3 billion expected
• Profit beat and guidance raise did not offset pill and CagriSema concerns
• Barclays cited soft pill performance and short-term investor positioning