Novo Nordisk A/S (NYSE:NVO) stock is trading lower on Tuesday after the weight-loss drug maker released its 2026 full-year sales and operating profit outlook.

2026 Outlook

Novo Nordisk expects reported 2026 sales and operating profit to benefit from a $4.2 billion reversal of 340B Drug Pricing Program in the U.S. In 2025, $400 million was excluded.

Excluding this one-time item, the mid-point of sales and operating profit growth guidance for 2026, both at CER, would be -1% and 11%, respectively.

Adjusted sales growth for 2026, which excludes revenue from the reversal of 340B provisions, is expected to be -5% to -13% at CER.

The sales outlook is impacted by lower realized prices, including impacts related to the “Most ...