US-listed Novo shares slip after company flags sharp 2026 sales drop

Amgen

03/02/2026 17:48

** U.S.-listed shares of Danish drugmaker Novo Nordisk NOVOb.CO fall 13.8% to $50.83

** Novo expects 2026 sales to fall between 5% and 13%, as competition in obesity drugs intensifies; analysts on average expect sales to decline 2% for the year

** Q4 operating profit down 14% at 31.7 billion crowns, while analysts estimate 31.2 billion

** Shares of rival Eli Lilly LLY.N fall 3.4% in afternoon trading

** Obesity drug developers Structure Therapeutics GPCR.O and Altimmune ALT.O down 5.4% each, Viking Therapeutics VKTX.O down 3.7%, Amgen AMGN.O slip 1.4%

** Novo shares down ~42% in 2025

($1 = 6.3190 Danish crowns)

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))