olivLaw · US equity research
Novo Nordisk A/S NVO
Pharmaceutical Preparations · SIC 2834 · Vertical: Pharmaceutical Preparations (SIC 2834)
Novo Nordisk is a Danish pharmaceutical company and a world leader in obesity and diabetes care, with products marketed in approximately 170 countries. The company is going through a transformation and intense GLP-1 competition, while patent expirations could weigh on sales from 2026.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Novo Nordisk A/S (NVO) stock was 42.18 USD (+4.95% on the day), with beta 0.82, 52-week range 35.29–63.98 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 65.2
- strong (55–70)
- Bollinger (20, 2)
- 37.24 – 41.06
- above the upper band · %B 1.29 · band width 9.7%
- SMA 50 / 200
- 40.84 / 43.90
- mixed trend
- MACD (12, 26, 9)
- 0.09 / -0.39
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +12.4% | −1.1% | +13.5 pp | — |
| 3 months | −5.3% | −0.5% | −4.8 pp | — |
| 6 months | −7.8% | +4.4% | −12.2 pp | — |
| Year to date | −17.1% | +12.3% | −29.4 pp | — |
| 1 year | −12.6% | +13.5% | −26.1 pp | +19.6% |
| 3 years | −57.0% | +76.4% | −133.4 pp | +33.9% |
| 5 years | −25.6% | +63.7% | −89.3 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
the price (USD) and the reports are in different currencies
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 122.0 bn | 126.9 bn | 140.8 bn | 177.0 bn | 232.3 bn | 290.4 bn | 309.1 bn |
| Revenue YoY | unavailable | +4.0% | +10.9% | +25.7% | +31.3% | +25.0% | +6.4% |
| Net income | 39.0 bn | 42.1 bn | 47.8 bn | 55.5 bn | 83.7 bn | 101.0 bn | 102.4 bn |
| Net income YoY | unavailable | +8.2% | +13.3% | +16.3% | +50.7% | +20.7% | +1.4% |
| Diluted EPS | 16.38 | 18.01 | 10.37 | 12.22 | 18.62 | 22.63 | 23.03 |
| Diluted EPS YoY | unavailable | +10.0% | −42.4% | +17.8% | +52.4% | +21.5% | +1.8% |
| net % | 31.9% | 33.2% | 33.9% | 31.4% | 36.0% | 34.8% | 33.1% |
| Free cash flow | 37.9 bn | 46.1 bn | 48.7 bn | 66.7 bn | 83.1 bn | 73.8 bn | 59.0 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 26.5 bn DKK
- Financial debt
- 131.0 bn DKK
- Net debt
- 104.5 bn DKK
- Equity
- 194.0 bn DKK
- Total assets
- 542.9 bn DKK
- Debt / equity
- 0.67x
- Current ratio
- 0.80x
- ROE
- 60.7%
- ROA
- 20.3%
- FCF margin
- 19.1%
Financial statements (source on every figure)
Revenue and net income (DKK)
Margins
Income statement · DKK
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 126.9 bn | 140.8 bn | 177.0 bn | 232.3 bn | 290.4 bn | 309.1 bn | SEC (XBRL)· 04 Feb 2026verified |
| Cost of revenue | 20.9 bn | 23.7 bn | 28.4 bn | 35.8 bn | 44.5 bn | 58.8 bn | SEC (XBRL)· 04 Feb 2026verified |
| Gross profit | 106.0 bn | 117.1 bn | 148.5 bn | 196.5 bn | 245.9 bn | 250.3 bn | SEC (XBRL)· 04 Feb 2026verified |
| Research & development | 15.5 bn | 17.8 bn | 24.0 bn | 32.4 bn | 48.1 bn | 52.0 bn | SEC (XBRL)· 04 Feb 2026verified |
| Operating income | 54.1 bn | 58.6 bn | 74.8 bn | 102.6 bn | 128.3 bn | 127.7 bn | SEC (XBRL)· 04 Feb 2026verified |
| Depreciation & amortisation | — | — | 6.6 bn | 7.3 bn | 8.5 bn | 14.7 bn | SEC (XBRL)· 04 Feb 2026verified |
| EBITDA | — | — | 81.4 bn ≈ | 109.9 bn ≈ | 136.9 bn ≈ | 142.3 bn ≈ | SEC (XBRL)· 04 Feb 2026derived |
| Interest expense | 2.6 bn | 2.5 bn | 6.0 bn | 845.0 m | 7.3 bn | 6.8 bn | SEC (XBRL)· 04 Feb 2026verified |
| Pre-tax income | 53.1 bn | 59.1 bn | 69.1 bn | 104.7 bn | 127.2 bn | 130.5 bn | SEC (XBRL)· 04 Feb 2026verified |
| Income tax | 11.0 bn | 11.3 bn | 13.5 bn | 21.0 bn | 26.2 bn | 28.1 bn | SEC (XBRL)· 04 Feb 2026verified |
| Net income | 42.1 bn | 47.8 bn | 55.5 bn | 83.7 bn | 101.0 bn | 102.4 bn | SEC (XBRL)· 04 Feb 2026verified |
| Diluted EPS | 18.01 | 10.37 | 12.22 | 18.62 | 22.63 | 23.03 | SEC (XBRL)· 04 Feb 2026verified |
| Weighted average diluted shares | 2.3 bn | 4.6 bn | 4.5 bn | 4.5 bn | 4.5 bn | 4.4 bn | SEC (XBRL)· 04 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · DKK
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 12.2 bn | 10.7 bn | 12.7 bn | 14.4 bn | 15.7 bn | 26.5 bn | SEC (XBRL)· 04 Feb 2026verified |
| Inventories | 18.5 bn | 19.6 bn | 24.4 bn | 31.8 bn | 40.8 bn | 49.6 bn | SEC (XBRL)· 04 Feb 2026verified |
| Current assets | 65.8 bn | 85.6 bn | 108.2 bn | 139.6 bn | 161.8 bn | 172.5 bn | SEC (XBRL)· 04 Feb 2026verified |
| Property, plant & equipment, net | 50.3 bn | 55.4 bn | 66.7 bn | 91.0 bn | — | — | SEC (XBRL)· 31 Jan 2024verified |
| Goodwill | — | — | — | — | 20.0 bn | 19.8 bn | SEC (XBRL)· 04 Feb 2026verified |
| Intangibles (excl. goodwill) | 20.7 bn | 43.2 bn | 50.9 bn | 60.4 bn | 90.8 bn | 110.2 bn | SEC (XBRL)· 04 Feb 2026verified |
| Total assets | 144.9 bn | 194.5 bn | 241.3 bn | 314.5 bn | 465.6 bn | 542.9 bn | SEC (XBRL)· 04 Feb 2026verified |
| Short-term debt | 7.5 bn | 13.7 bn | 1.5 bn | 6.5 bn | 13.1 bn | 12.0 bn | SEC (XBRL)· 04 Feb 2026verified |
| Long-term debt | 2.9 bn | 13.0 bn | 24.3 bn | 20.5 bn | 89.7 bn | 118.9 bn | SEC (XBRL)· 04 Feb 2026verified |
| Current liabilities | 70.3 bn | 99.5 bn | 120.9 bn | 169.7 bn | 217.6 bn | 215.7 bn | SEC (XBRL)· 04 Feb 2026verified |
| Total liabilities | 81.6 bn | 123.8 bn | 157.8 bn | 207.9 bn | 322.1 bn | 348.9 bn | SEC (XBRL)· 04 Feb 2026verified |
| Equity | 63.3 bn | 70.7 bn | 83.5 bn | 106.6 bn | 143.5 bn | 194.0 bn | SEC (XBRL)· 04 Feb 2026verified |
Cash flow · DKK
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 52.0 bn | 55.0 bn | 78.9 bn | 108.9 bn | 121.0 bn | 119.1 bn | SEC (XBRL)· 04 Feb 2026verified |
| Capex | 5.8 bn | 6.3 bn | 12.1 bn | 25.8 bn | 47.2 bn | 60.1 bn | SEC (XBRL)· 04 Feb 2026verified |
| Free cash flow | 46.1 bn ≈ | 48.7 bn ≈ | 66.7 bn ≈ | 83.1 bn ≈ | 73.8 bn ≈ | 59.0 bn ≈ | SEC (XBRL)· 04 Feb 2026derived |
| Investing cash flow | -22.4 bn | -31.6 bn | -24.9 bn | -43.9 bn | -128.9 bn | -79.2 bn | SEC (XBRL)· 04 Feb 2026verified |
| Financing cash flow | -32.2 bn | -25.5 bn | -51.8 bn | -63.2 bn | 8.7 bn | -28.4 bn | SEC (XBRL)· 04 Feb 2026verified |
| Dividends paid | 20.1 bn | 21.5 bn | 25.3 bn | 31.8 bn | 44.1 bn | 51.8 bn | SEC (XBRL)· 04 Feb 2026verified |
| Share repurchases | 16.9 bn | 19.4 bn | 24.1 bn | 29.9 bn | 20.2 bn | 1.4 bn | SEC (XBRL)· 04 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 70 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Price and reporting are in different currencies; market indicators are unavailable.
Key indicators
Coverage and freshness
Score by group
- Balance sheet44
- Returns46
- Quality76
- Growth100
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Neutral profile · Score 70/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 37.9% | 92 (vs peers) | 16% |
| Net margin · Quality | 33.1% | 88 (vs peers) | 10% |
| FCF conversion · Quality | 57.6% | 39 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 20.4% | 100 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | 23.5% | 100 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | 0.7x | 29 (vs peers) | 16% |
| Interest coverage · Balance sheet | 18.8x | 100 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 0.8x | 0 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 87.8% | 46 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet44/100 · 3/3 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality76/100 · 3/3 factors with a value
- Returns· partial46/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
NOVO NORDISK A/S (NVO). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 309.1 bn DKK in 2025; YoY growth 6.4%; net margin 33.1%; ROE 60.7%; net debt/EBITDA 0.7x.
The estimated value range is 405.61–999.90 DKK per share (median of 1 methods, agreement: single method); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 70/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns, valuation. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 37.9%
- Net margin: 33.1%
- Revenue CAGR 3Y: 20.4%
- EPS CAGR 3Y: 23.5%
- Interest coverage: 18.8x
What contradicts it
- Net debt / EBITDA: 0.7x
- Current ratio: 0.8x
Not assessed (insufficient data or a ratio without meaning): P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Pharmaceutical Preparations (SIC 2834) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LLYEli Lilly And Company | 1,334.0 bn | 46.0 | 86.1% | 31.9% | +44.7% | +32% / +140% |
| JNJJohnson & Johnson | 665.2 bn | 41.9 | 20.0% | 16.2% | +6.0% | +34% / +79% |
| ONCBeone Medicines Ltd. | 558.4 bn | 869.9 | 14.7% | 10.7% | +40.2% | +11% / +102% |
| ABBVAbbVie Inc. | 521.1 bn | 50.7 | — | 15.7% | +8.6% | +29% / +107% |
| MRKMerck & Co., Inc. | 370.7 bn | 154.7 | 5.1% | 3.6% | +1.3% | +43% / +47% |
| ABTAbbott Laboratories | 200.1 bn | 43.0 | 9.2% | 9.7% | +5.7% | −10% / +11% |
| PFEPfizer Inc | 175.5 bn | 43.9 | 4.4% | 6.3% | −1.6% | +20% / +1% |
| VRTXVertex Pharmaceuticals Inc | 139.2 bn | 35.3 | 20.8% | 30.7% | +8.9% | +27% / +55% |
| BMYBristol-Myers Squibb Company | 131.2 bn | 14.2 | 44.1% | 18.5% | −0.2% | +30% / +30% |
| TEVATeva Pharmaceutical Industries Limited | 48.8 bn | 97.4 | 6.6% | 3.6% | +4.3% | +56% / +326% |
| ZTSZoetis Inc. | 36.9 bn | 14.7 | 64.4% | 27.5% | +2.3% | −30% / −50% |
| ROIVRoivant Sciences Ltd. | 27.6 bn | — | -6.2% | -3,535.0% | −71.6% | +84% / +300% |
| RPRXRoyalty Pharma plc | 26.2 bn | 47.7 | 6.9% | 25.7% | +5.1% | +69% / +150% |
| UTHRUnited Therapeutics Corporation | 25.9 bn | 23.0 | 19.1% | 38.6% | +10.6% | +25% / +154% |
| INSMInsmed Inc | 24.1 bn | — | -72.5% | -39.9% | +66.7% | −47% / +340% |
| VTRSViatris Inc. | 22.1 bn | — | -23.6% | -23.9% | −3.0% | +80% / +109% |
| ALNYAlnylam Pharmaceuticals, Inc. | 21.6 bn | 8.1 | 126.6% | 52.8% | +65.2% | −64% / −4% |
| TGTXTg Therapeutics, Inc. | 9.4 bn | 22.5 | 100.3% | 55.2% | +87.3% | +85% / +381% |
| BLRXBioLineRx Ltd | 4.9 bn | — | -12.8% | -171.7% | −95.9% | −46% / −97% |
| AGIOAgios Pharmaceuticals, Inc. | 1.9 bn | — | -34.3% | -418.2% | +48.0% | +7% / +41% |
| SLSSELLAS Life Sciences Group, Inc. | 1.8 bn | — | -39.6% | — | −100.0% | +464% / +779% |
| SVRASavara Inc | 957.4 m | — | -105.5% | — | unavailable | −26% / +21% |
| PBYIPuma Biotechnology, Inc. | 551.8 m | 20.5 | 22.0% | 11.6% | −0.9% | +112% / +174% |
| STTKShattuck Labs, Inc. | 516.9 m | — | -39.2% | -5,256.8% | −82.5% | +145% / +163% |
| PHATPhathom Pharmaceuticals, Inc. | 461.7 m | — | — | -30.2% | +216.9% | −64% / −19% |
1- and 3-year price returns: for NVO from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Feb 2026; since then the company filed 6-K (04 Nov 2026), 6-K (03 Nov 2026), 6-K (26 Oct 2026), 6-K (19 Oct 2026), 6-K (13 Oct 2026), 6-K (06 Oct 2026).
In brief
Novo Nordisk is a Danish pharmaceutical company and a world leader in obesity and diabetes care, with products marketed in approximately 170 countries 1. The company is going through a transformation and intense GLP-1 competition, while patent expirations could weigh on sales from 2026 1.
SWOT
Strengths
- The company has a GLP-1 product portfolio with very large sales and a global presence in hundreds of countries 1.
- Ongoing investment in research and development supports a flow of new products and patent protection 1.
- The company is a global reference in obesity and diabetes treatment, with long experience in insulin 1.
Weaknesses
Opportunities
Threats
Risks
- Competition in GLP-1high
Increased competition in the US and outside the US has led to loss of volume market share, and this could continue 1.
- Patent expirationshigh
Expiring patents could affect sales from 2026, and litigation with generic makers is ongoing 1.
- Pricing pressuremedium
Price pressure in the US and Medicare negotiations could reduce margins in the coming years 1.
- Cybersecuritymedium
A cyber attack or a personal data breach could disrupt operations and bring regulatory penalties 1.
- Climate and water riskslow
Natural events and water scarcity could disrupt production, and climate targets depend on lower-carbon technologies 1.
Investment thesis
What would need to be true (bull case)
- If demand for GLP-1 keeps growing and distribution improves, sales of Wegovy and Ozempic could sustain growth 1.
- The Akero acquisition could add a new MASH portfolio if ongoing clinical studies succeed 1.
- Expanded US access programmes could bring new patients at lower prices but with higher volumes 1.
What would break the thesis
- If loss of volume market share continues, the company may not regain its leading position in the GLP-1 market 1.
- Patent expirations and generic entry could materially reduce revenue from mature products 1.
- US pricing pressure could reduce margins, especially once Medicare negotiated prices take effect in 2027 1.
What to watch
- Evolution of GLP-1 volume market share in the USQ1 2027
- Effects of the Medicare Part D obesity programme2027
- Phase 3 results for efruxifermin in MASHnext 10-K
- Impact of patent expirations on 2026 sales2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Feb 2026; since then the company filed 6-K (04 Nov 2026), 6-K (03 Nov 2026), 6-K (26 Oct 2026), 6-K (19 Oct 2026), 6-K (13 Oct 2026), 6-K (06 Oct 2026).
The business
Novo Nordisk A/S was formed in 1989 by a merger of two Danish companies and began with the production of insulin for diabetes; it is headquartered in Denmark 1. The company employs more than 69,500 people and operates in two segments, Obesity and Diabetes care and Rare disease 1. Its B shares are listed on Nasdaq Copenhagen and its ADRs on the New York Stock Exchange as NVO 1.
Segments
Obesity and Diabetes care
This segment includes the GLP-1 products Ozempic, Wegovy and Saxenda, as well as modern and human insulins. Ozempic had global sales of more than DKK 127 billion in 2025, while Wegovy grew 36% to DKK 79 billion 1. Wegovy Pill launched in the first quarter of 2026 1.
Rare disease
This segment consists mainly of growth hormone and haemophilia products. It is smaller but holds a stable position in the company's portfolio 1.
Market context
The diabetes treatment market keeps growing as more people are diagnosed, and the anti-obesity market, especially GLP-1, is expanding quickly. The source notes the global branded obesity market doubled by volume in 2025, and obesity care sales of Saxenda and Wegovy reached DKK 82,347 million 1. The most important markets in 2025 were the United States, China, Canada, Japan and the major European countries 1.
Trends
- Rising demand for GLP-1tailwind
Use of GLP-1 for type 2 diabetes and obesity has increased significantly and the market has expanded considerably 1. This growth could support the company's sales if demand holds.
- Pricing pressure in the USheadwind
Pharmacy benefit managers in the US are pressuring prices, and Medicare Part D negotiated prices for semaglutide products take effect in 2027 1. The agreement with the US administration could expand access but at lower prices 1.
- Patent expirationsheadwind
Expiring patents could affect sales starting in 2026, and the Victoza compound patent has already expired in the US 1. Generic makers have filed applications for several products, and the company is litigating against them 1.
- Compounding and supplymixed
Compounding pharmacies in the US have introduced unapproved copies of GLP-1 products, which the company opposes 1. Supply improved through 2025 as manufacturing scaled, which could support demand 1.
Competitive position
Novo Nordisk and Eli Lilly are the most significant companies in the global diabetes and GLP-1 markets measured by market share 1. The company has lost volume market share in GLP-1 markets for obesity and diabetes due to increased competition in the US and outside the US 1.
- Eli LillyLLY
The most significant competitor in the global diabetes and GLP-1 markets according to the source 1.
- Insulin biosimilar makers
Local competitors in China and other producers have developed or launched insulin biosimilars that compete with the company's products 1.
- Generic drug makers
Several generic makers have filed applications for GLP-1 generic versions, and some have already secured launch licences 1.
- Large international pharmaceutical companies
Several major international pharmaceutical and smaller biotech companies are developing anti-obesity medications, adding competitive pressure 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Рынки акций Европы в среду закрылись уверенным ростомInterfax Russia (RU) · 05 Nov 2026 · RU
- STAT+: Ultragenyx cuts staff after another study failsSTAT News · 04 Nov 2026 · EN
- Stocks making the biggest moves premarket: Trump Media, Tesla, CoreWeave, Novo Nordisk and moreCNBC — Top News · 04 Nov 2026 · EN
- Democrats Sweep House and Senate in Midterm Rebuke of TrumpBloomberg Markets · 04 Nov 2026 · EN
- Beleaguered Novo offers relief to investors, thanks to Wegovy pillMarketWatch — Top Stories · 04 Nov 2026 · EN
- Novo CEO Doustdar 'Very Optimistic' About CagriSemaBloomberg Markets · 04 Nov 2026 · EN
- Novo raises full-year outlook as Wegovy pill sales impressCNBC — Top News · 04 Nov 2026 · EN
- A live biotherapeutic product for adult allogeneic hematopoietic cell transplantation recipients: a partially randomized, placebo-controlled phase 1b trialNature Medicine · 03 Nov 2026 · EN
- Recent Advances in De Novo Synthesis of Interfacial Two-Dimensional PolymersACS Nano · 02 Nov 2026 · EN
- Pharma's next cash cows could be specialized treatmentsAxios · 02 Nov 2026 · EN
- Un tratament anti-obezitate ajunge în farmaciile din Franța, sub formă de tableteMediafax · 02 Nov 2026 · RO
- Global, regional and national burden of cervical cancer in 1990–2023 with forecasts to 2050: a Global Burden of Disease studyNature Medicine · 02 Nov 2026 · EN
- Spatial mapping reveals how human urogenital organs codevelop during organogenesisPhys.org · 30 Oct 2026 · EN
- Eli Lilly Shares Surge on Raised Sales ForecastBloomberg Markets · 29 Oct 2026 · EN
- ALLOX closes $10.5M seed financing to scale drug discovery platformTech.eu · 29 Oct 2026 · EN
- Highly Emissive NIR-II Unimolecular Micelles via a Core–Cap Synthetic Strategy for Deep-Tissue Imaging and Image-Guided SurgeryACS Nano · 29 Oct 2026 · EN
- STAT+: Lilly’s triple-G drug beats Ozempic in head-to-head studySTAT News · 28 Oct 2026 · EN
- STAT+: Lilly says ‘triple-G’ drug beats Novo’s Ozempic in diabetes studySTAT News · 28 Oct 2026 · EN
- STAT+: Nonprofit resurrects shelved gene therapy after startup shuts downSTAT News · 27 Oct 2026 · EN
- STAT+: Pharmalittle: We’re reading about a Novo setback in court, a House probe into big PBMs, and moreSTAT News · 27 Oct 2026 · EN
SEC filings
- Current report (foreign issuer)04 Nov 2026
- Current report (foreign issuer)03 Nov 2026
- Current report (foreign issuer)26 Oct 2026
- Current report (foreign issuer)19 Oct 2026
- Current report (foreign issuer)13 Oct 2026
- Current report (foreign issuer)06 Oct 2026
- Current report (foreign issuer)05 Oct 2026
- Current report (foreign issuer)28 Sept 2026
- Current report (foreign issuer)21 Sept 2026
- Current report (foreign issuer)17 Sept 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Novo Nordisk A/S · 04 Feb 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.