Novo Nordisk Warns of 2026 Revenue Drop as Competition, MFN Pricing Bite
Novo Nordisk warned that 2026 sales and operating profit could fall 5%-13%, pressured by U.S. price competition, a Most Favored Nation pricing deal, currency headwinds, and looming patent expirations abroad; Wegovy momentum supported 2025 results, and the company plans reinvestment from savings amid ongoing layoffs. It also announced leadership changes: Dave Moore is leaving and will be replaced by Jamey Millar, while Ludovic Helfgott is departing with Hong Chow slated to join. Shares fell about 14% after the update.