Analyst: Novo Nordisk's Chief Financial Officer will focus on launching Wegovy oral medication in the United States.

Berenberg analysts wrote that Novo Nordisk's Chief Financial Officer will focus next year on launching Wegovy oral medication in the United States and continue to drive progress in the pipeline of in-development products. The bank hosted Chief Financial Officer Karsten Munk Knudsen this week, who reiterated comments about facing multiple headwinds in 2026. These headwinds include several semaglutide patents expiring and price reductions for obesity drugs in the U.S. Catalysts include the launch of Wegovy oral medication and trial data comparing CagriSema with Eli Lilly's Zepbound. Regulatory filings for CagriSema and FDA approval for high-dose Wegovy in the U.S. are expected early next year. Berenberg predicts a 2% decrease in total revenue growth in 2026, with an operating profit margin of 40% and a 7% decrease in earnings per share. The bank rates Novo Nordisk stock as a buy with a target price of 400 Danish Kroner. The stock rose 2.7% to 314.10 Kroner.