Novo Nordisk - FY 2025 Earnings Review

Novo Nordisk's FY 2025 results show a revenue increase of +6.4% YoY, but with a deceleration in quarterly sales. Operating income saw a slight decrease of -0.5% YoY, while diluted EPS grew by +1.7%. The company has proposed a dividend of 11.7 DKK/share and a DKK 15 billion share buyback program for 2026. However, the outlook for 2026 anticipates a sales decrease ranging from -5% to -13% at CER. The article provides a detailed analysis of the company's performance, including the performance of its key drugs like Wegovy, Ozempic, and Rybelsus, as well as its Insulin and Rare Diseases segments.