Novo Nordisk Names Galderma's La Corte as CFO While Lifting 2026 Outlook and Fast-Tracking Wegovy Pill

Novo Nordisk will have a new hand on the financial tiller. On Wednesday the Danish drugmaker appointed Luigi La Corte as chief financial officer and executive vice president, succeeding Karsten Munk Knudsen, who leaves the company at the end of 2026. La Corte currently holds the CFO post at Galderma. The announcement landed alongside third-quarter numbers and an upgraded full-year forecast.

Guidance Raised on Both Lines

For 2026, Novo Nordisk now expects adjusted sales and adjusted operating profit to move between -2% and +2% at constant exchange rates. The previous range for both measures was -6% to 0%, so the new band still leaves room for either contraction or growth.

Adjusted sales for the third quarter of 2026 came in at DKK 79.2 billion, with adjusted operating profit of DKK 31.7 billion. Higher volumes underpinned both the stronger quarterly result and the brighter outlook, Reuters reported on Wednesday, driven chiefly by obesity medicines in the US and on international markets. Sales of the Wegovy pill, which topped expectations, added to the momentum.

Impairments Drive a Wedge Between Adjusted and Reported Profit

Beneath the headline improvement, the reported figures tell a different story. Adjusted operating profit climbed 27% year on year at constant currencies, yet reported operating profit fell 9% on the same basis. Impairments of DKK 8.7 billion sat behind the gap: DKK 4.6 billion tied to Ziltivekimab and DKK 4.1 billion to an adjustment of the production network.

Analysts Diverge After the Print

Two brokers reached opposite conclusions on valuation the following day. UBS cut its price target to DKK 312 from DKK 332, with analyst Matthew Weston keeping a "Neutral" rating. BMO Capital moved the other way, lifting its target to $44 from $40 while reaffirming "Market Perform." Analyst Evan Seigerman pointed to a strong quarter and US sales of the Wegovy pill that beat consensus by 17%. He nonetheless questioned whether Novo Nordisk can sustain that momentum through 2027, and flagged competition for prescriptions under Medicare Bridge.

Semaglutide's Mixed Geographic Footprint

In emerging markets, the loss of semaglutide patent protection in Brazil weighed on the business. Novo Nordisk said it largely held its ground in Canada and India, according to Reuters.

The company also plans to bring the Wegovy pill to market faster internationally. Reuters reported it should reach more than 20 countries by mid-2027, pulled forward from an earlier schedule that targeted launch by the end of 2027.

Pipeline Calendar Set for November

Novo Nordisk's next announced research showcase is ObesityWeek 2026, running from 14 to 17 November. The company has slated 26 scientific abstracts for the event, spanning analyses of the investigational CagriSema, real-world data on the Wegovy pill, and semaglutide research under the STEP Young programme in children.