Why did Novo Nordisk stock fall today?

Management guided for a 5–13% revenue decline in 2026, citing U.S. GLP-1 pricing pressure, higher rebates, and competition. That outlook hit expected margins and cash flows, triggering a selloff of up to 15% intraday. The market focused on near-term pricing realities rather than positive CagriSema data.

Does CagriSema change the long-term outlook for Novo Nordisk stock?

Yes, the Phase 3 data support long-term growth potential in obesity and cardio-metabolic care. However, today’s move shows investors want clearer visibility on 2026 revenue and margins first. Positive clinical results matter, but pricing, reimbursement, and net demand must align to lift the stock sustainably.

How should Swiss investors approach the shares after the drop?

Consider FX exposure since the ADR is in USD and the parent in DKK, while your base is CHF. Size positions modestly, scale entries, and pair with defensives to manage volatility. Reassess after the May 6 earnings call when management can update guidance and address GLP-1 pricing pressure.

What are the next key catalysts to watch?

Watch U.S. payer contracts, any updates on GLP-1 supply and manufacturing, and guidance revisions. The next scheduled earnings is on 6 May 2026. Evidence of stable net pricing and volume growth would help rebuild confidence and could support a recovery in Novo Nordisk stock.

Global Market Insights

NVO Stock Today February 5: Sales-Guidance Shock Trumps CagriSema

ByDanny Kontos February 5, 2026February 5, 2026

Novo Nordisk stock is swinging after management guided for a 5–13% revenue decline in 2026, citing U.S. GLP-1 pricing pressure and tougher competition. Despite strong Phase 3 data for CagriSema, the market focused on margins and rebates. ADR NVO fell as much as 15% intraday, highlighting uncertainty. For Swiss investors, currency effects and U.S. policy risk matter. We break down today’s move, what the guidance implies, and how to position around the obesity pipeline.