Novo Nordisk Insider Sale Coincides With CFO Appointment and Upgraded Guidance

A 12,000-share disposal by Novo Nordisk's head of research and development topped the Danish drugmaker's Wednesday news flow, with Martin Holst Lange offloading B-shares at DKK 285.00 apiece on Nasdaq Copenhagen. The same day brought two weightier announcements: a new finance chief and a brighter full-year outlook.

Luigi La Corte, currently CFO at Galderma, will take over the group finance role, according to Reuters. He succeeds Karsten Munk Knudsen, who leaves the company at the end of December to pursue other opportunities.

Guidance Raised After Quarterly Beat

Novo Nordisk now expects both adjusted sales and adjusted operating profit for 2026 to land anywhere between a 2% increase and a 2% decline, measured at constant exchange rates. The prior range had run from flat to a 6% drop — a band that ruled out growth altogether. The revised forecast puts expansion back on the table.

The upgrade followed third-quarter figures showing adjusted sales of DKK 79.20 billion. Adjusted operating profit climbed 27% at constant currencies to DKK 31.72 billion. Sales of the Wegovy pill reached DKK 5.39 billion.

Investors responded after the Wednesday releases: the stock added 0.6% on Friday to close at EUR 36.20, capping a positive session.

French Pharmacies Give the Pill a Cold Shoulder

Whether the oral version can build on that quarterly contribution depends heavily on getting it onto shelves and into patients' hands. A report published by La Dépêche paints a patchy picture in France, where none of the three pharmacies visited could supply the product. Several chemists said they would rather gauge demand before placing orders for the daily tablet, which offers an alternative to the weekly injection.

Money is the bigger obstacle. The newspaper cites a recommended price of EUR 169 per month for the oral form, though actual costs can vary by pharmacy. France's health insurance system does not reimburse the drug, leaving patients to foot the bill themselves — a barrier that caps sales prospects as long as willingness to pay lags behind medical interest. The reluctance of individual pharmacies only sharpens the access problem.

The injectable version tells a different story, with roughly 100,000 patients already using the shot. That base demonstrates genuine appetite for Wegovy. The tablet's test is whether it can reach additional patients who prefer oral treatment and can afford it.

Prescription Data Point to New Users

Early uptake of the pill offers encouragement on that front. More than 3 million prescriptions had been written by June, and over 80% went to people who had never taken a GLP-1 drug before. For Novo Nordisk, that is a promising signal — provided those patients stay on treatment. Broad recruitment of first-time users would underpin the tablet's growth case, whereas simple switches from the injection promise far less incremental business.

US Competition Raises the Stakes

Across the Atlantic, Novo Nordisk faces entrenched rivals. Eli Lilly claimed a 63% share of the US market for incretin-based treatments, diabetes included, in the third quarter of 2026. Cheaper compounded preparations made in pharmacies add further pressure.

A Gallup survey underlines how relevant those alternatives have become: 11% of American adults said they use GLP-1 drugs for weight loss, and of that group 18% relied on compounded versions while 66% used branded medicines.

For Novo Nordisk, product interest only converts into durable growth when supply and financing line up. The French pharmacy report makes that operational challenge plain — the tablet has to be there for the patients willing and able to pay for it.