Feb 4 (Reuters) – Novo Nordisk shares tumbled 16% on Wednesday, wiping off around $50 billion from the Wegovy maker’s market capitalization after it warned on Tuesday its sales and profits would fall in 2026.
Novo Nordisk, which was worth more than $600 billion in 2024, said it expected both its sales and operating profit to fall between 5% and 13% this year, affected by lower drug prices in the United States.
That would be the company’s first revenue decline since 2017, according to LSEG data.
“After a year in which Novo Nordisk disappointed investors several times with downward adjustments, Novo has delivered yet another blow to investors,” analysts from Jyske Bank said in a note to clients.
Novo Nordisk’s Copenhagen-listed shares were set for their biggest one-day drop since July, if the losses hold through the day, having wiped off all their gains from the beginning of the year.
Wednesday’s share drop wiped more than 40 billion euros off the company’s market capitalisation, which was at 216 billion euros ($255 billion) at Tuesday’s close.
($1 = 0.8460 euros)
(Reporting by Boleslaw Lasocki, additional reporting by Josehpine Mason and Canan Sevgili)
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