Novo Nordisk Shares Plunge 36%, Launches DKK 15 Billion Buyback
Novo Nordisk shares plunged 36% over three months after a weak 2026 outlook citing pricing pressure and intensifying GLP-1 competition, despite 10% sales growth and DKK 5 billion free cash flow funding dividends and buybacks. The company launched a DKK 15 billion share repurchase programme beginning February 2026 to bolster the share price.
1. Share Price Decline and 2026 Outlook
Shares slid 36% over three months after management warned of a weaker-than-expected 2026 outlook, attributing the slowdown to pricing pressure in key markets and intensifying competition among GLP-1 therapies.
2. Robust 2025 Results
Despite near-term headwinds, the company achieved 10% year-over-year sales growth in 2025, generated approximately USD 5 billion in free cash flow, and maintained a 4.8% dividend yield to shareholders.
3. DKK 15 Billion Repurchase Programme
Effective 4 February 2026, the company initiated a DKK 15 billion share repurchase programme under EU Safe Harbour rules, to be executed within 12 months as part of its ongoing capital allocation strategy.