Why did Novo Nordisk stock fall today?

Management cut its 2026 revenue guidance by 5–13% and warned of stronger U.S. pricing pressure. Expected Wegovy price cuts and tougher Ozempic competition add to margin risk. Investors quickly discounted a lower profit path despite a DKK 15 billion buyback, pulling shares down and pressuring the broader pharma sector.

How do Wegovy price cuts affect margins?

Price cuts can widen access, which boosts volumes, but net prices typically fall as rebates rise. If the volume uplift does not fully offset lower net pricing, gross margin and operating margin compress. The market now assumes weaker pricing and waits for proof that higher prescriptions can sustain profit growth.

What should German investors watch next?

Track U.S. payer contracts, net pricing trends, and weekly prescription data for obesity therapies. Watch competitor moves from Eli Lilly and any updates to reimbursement in Europe. Technicals matter near term, so monitor whether shares reclaim the 50-day average, and whether selling volume eases on down days.

Is the dividend at risk after the guidance cut?

The company still generates strong cash flow, and the announced DKK 15 billion buyback suggests confidence. That said, lower net pricing can pressure payout growth. We would not assume increases until visibility improves on 2026 revenue guidance, margins, and capex needs tied to expanding manufacturing capacity.

Global Market Insights

NVO Stock Today, February 04: Shares Plunge on 2026 Sales Cut

ByHuzaifa Zahoor February 5, 2026February 5, 2026

Novo Nordisk stock dropped sharply today after management cut 2026 revenue guidance by 5–13%, citing strong U.S. pricing pressure, planned Wegovy price cuts, patent headwinds for semaglutide, and tougher competition. The ADR NVO fell heavily intraday as investors reset GLP-1 profit expectations. A DKK 15 billion buyback did not steady sentiment. We explain the drivers, the price action, and what this means for German portfolios, with practical levels and next catalysts to watch.