NOVO NORDISK A S
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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Sep 30, 2026 · Filed Nov 4, 2026
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Contents
PERFORMANCE HIGHLIGHTS
| FINANCIAL HIGHLIGHTS | Q3 2026 | Growthin DKK | Growthat CER | 9M 2026 | Growthin DKK | Growthat CER |
|---|---|---|---|---|---|---|
| (Amounts are in DKK million, except for earnings per share) | ||||||
| Net sales | 79,195 | 6% | 4% | 254,506 | 11% | 13% |
| Adjusted net sales1 | 79,195 | 6% | 4% | 227,746 | 0% | 2% |
| Adjusted sales per therapy area | ||||||
| Total obesity | 26,146 | 24% | 22% | 70,210 | 18% | 20% |
| Total diabetes | 47,545 | (3%) | (5%) | 142,910 | (7%) | (5%) |
| Obesity and diabetes total | 73,691 | 5% | 3% | 213,120 | 0% | 2% |
| Blood & endocrine disorders total | 5,504 | 17% | 15% | 14,626 | 3% | 6% |
| Adjusted sales for key brands | ||||||
| Wegovy® injectable | 20,407 | 0% | (2%) | 58,126 | 2% | 4% |
| Wegovy® pill | 5,394 | N/A | N/A | 10,868 | N/A | N/A |
| Ozempic® | 29,706 | (3%) | (5%) | 88,906 | (5%) | (3%) |
| Ozempic® pill / Rybelsus® | 4,938 | (9%) | (10%) | 14,738 | (12%) | (10%) |
| Gross profit | 60,958 | 7% | 3% | 205,571 | 10% | 13% |
| Gross margin | 77.0% | 80.8% | ||||
| Operating profit (EBIT) | 23,011 | (3%) | (9%) | 109,690 | 14% | 18% |
| Operating margin | 29.1% | 43.1% | ||||
| Adjusted gross profit1 | 65,019 | 14% | 10% | 182,872 | 0% | 2% |
| Adjusted gross margin | 82.1% | 80.3% | ||||
| Adjusted operating profit (EBIT)1 | 31,720 | 34% | 27% | 97,967 | 5% | 8% |
| Adjusted operating margin | 40.1% | 43.0% | ||||
| Net profit | 16,740 | (16%) | N/A | 86,286 | 14% | N/A |
| Adjusted net profit1 | 25,602 | (12%) | N/A | 82,502 | (4%) | N/A |
| OTHER KEY NUMBERS | ||||||
| Capital expenditure (PP&E) | 13,227 | (3%) | N/A | 37,213 | (11%) | N/A |
| Free cash flow1,2 | 28,483 | (13%) | N/A | 83,780 | 18% | N/A |
| EBITDA1 | 37,383 | 19% | 15% | 137,902 | 23% | 26% |
| Diluted earnings per share / ADR (in DKK) | 3.79 | (16%) | N/A | 19.45 | 14% | N/A |
| Adjusted diluted earnings per share/ADR (in DKK)1 | 5.79 | (12%) | N/A | 18.60 | (3%) | N/A |
| 1) See appendix 7: Non-IFRS financial measures (additional information). | ||||||
| 2) Effective Q1 2026, the definition of Free cash flow has been updated and comparative figures have been restated accordingly. See Appendix 7 Non‑IFRS financial measures (additional information) for the revised definition. | ||||||
These unaudited condensed consolidated financial statements included in appendices 1 - 4 forthe first nine months of 2026 have
been prepared in accordance with IAS 34 'Interim Financial Reporting' as adopted by the EU and additional Danish disclosure
requirements for interim financial reporting of listed companies. The accounting policies adopted in the preparation are consistent
with those applied in the Annual Report 2025 of Novo, except from the changes in presentation described in note 1 to Appendix 2.
| 2030 ambitions | Performance highlights | Commercial execution | Financials | Cash flow and capital allocation | Outlook | R&D pipeline progress | Sustainability | Corporate Governance | Legal matters | Financial information |
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| Financial report for the period 1 January 2026 to 30 September 2026 | Page 4 of 35 |
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