Novo Nordisk Highlights Building Blocks, but More Data Needed to Reassure Investors

Dow Jones
09/22

0527 GMT - Novo Nordisk used its investor day to highlight potential building blocks that underpin mid-term growth expectations, but more data is needed to increase investor confidence, J.P. Morgan analysts write. The company provided mid-term targets for topline growth from 2026-30 in the mid-single-digit range and an expectation for adjusted operating profit margins to remain broadly stable. These targets largely underpin consensus expectations for sales, but depend on the Wegovy oral pill and CagriSema rollouts, and delivery of a competitive zenagamtide obesity and weight-loss drug profile in phase-3 trials in 2028, the bank adds. The company highlighted three further oral obesity products beyond Wegovy that it expects will further drive its market share in this segment. Shares fell 7.7% Monday.

 

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