Novo Nordisk Stock Jumped After Earnings — But Its CEO Won't Give 2027 Guidance. Here's What Investors Should Know
The Wegovy maker raised its outlook again and the stock jumped. But its CEO refused to forecast next year, and handed investors six clues instead.
Novo Nordisk's stock surged after reporting strong third-quarter earnings on Wednesday, with sales reaching $11.9 billion, surpassing analysts' expectations. The company's obesity drug sales increased by 22%, while their full-year outlook was raised to a 2% growth range. However, the CEO, Lars Olof Doustdar, refused to provide a 2027 sales growth forecast, stating that they wouldn't issue a guidance for the year.
CFO Karsten Munk Knudsen is stepping down after 27 years, and his replacement, Luigi La Corte, comes from Galderma, a skin-care company. During this transition, the CEO chose to provide three pluses and three minuses for the company's prospects. Positives include the success of the obesity pill Wegovy, which has surpassed 8 million prescriptions in the U.S., a new Medicare program covering weight-loss drugs for seniors, and upcoming launches of a next-generation obesity drug and a hemophilia treatment.
Minuses include patent losses for semaglutide in some international markets, a drag from China, falling U.S. list prices, and competition from Eli Lilly. The company's long-term growth goal is mid-single-digit sales growth through 2030, but investors will closely watch the February forecast to gauge the impact of new products and launches on future growth.
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