BRUSSELS (dpa-AFX) - Novo Nordisk A/S (NVO, NOVOB.CO, NOV.DE), a pharmaceutical company, on Wednesday posted a drop in net profit for the second quarter of fiscal 2026, amidst higher costs and expenses. However, the company recorded an increase in net sales, helped by the increased sales from the Obesity and Diabetes care segment.
In addition, the drug maker has revised up its annual outlook to reflect increased expectations for GLP-1 product sales.
For the three-month period to June 30, the company reported net income of DKK 20.989 billion, or DKK 4.75 per share, less than DKK 26.503 billion, or DKK 5.96 per share in the same period last year.
Excluding items, profit was DKK 27.421 billion, up 5% from the same period last year. Adjusted income per share stood at DKK 6.18, up 5% from the same period in the previous year.
Operating earnings were DKK 27.061 billion, compared with DKK 33.449 billion in the previous year.
Cost of goods sold moved up to DKK 17.100 billion from last year's DKK 12.846 billion. Other operating income and expenses were negative DKK 234 million as against the prior year's negative DKK 23 million.
The company reported net sales of DKK 78.488 billion, up from DKK 76.857 billion in the previous year. Obesity and Diabetes care segment recorded net sales of DKK 73.581 billion, higher than DKK 71.938 billion a year ago.
The board will pay an interim dividend of DKK 3.75 for each Novo Nordisk A and B share of DKK 0.10. The payment date for the A and B shares will be August 18, while the payment date for the ADRs will be August 25. The record date will be August 17 for the A and B shares as well as the ADRs.
Looking ahead, the drug maker now expects adjusted operating profit growth at CER of 0% to -6%, compared with the earlier guidance of '-4% to -12%. The company now anticipates adjusted sales growth at CER of 0% to -6%, compared with the previous guidance of '-4% to -12%.
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