Novo's sales for the first quarter of this year are expected to decrease to 69.4 billion Danish kroner, compared to 78.1 billion in the corresponding quarter last year.
Operating profit is forecast at 35.1 billion Danish kroner, according to a Bloomberg survey, a drop from 38.8 billion in the first quarter last year.
American competition
The company's American competitor Eli Lilly released its report last week. Revenue rose 56 percent year-on-year to $19.8 billion, exceeding analysts' expectations of $17.8 billion.
Eli Lilly is pushing Novo in the US, but Lilly is also pushing them globally with its obesity and diabetes drug Mounjaro, says Per Hansen.
Novo's own forecast points in the opposite direction. Earlier this year, the company announced that it expects sales to decline by 5–13 percent in 2026. If tomorrow's report contains even worse news, the market reaction could be strong.
That simply cannot happen, says Hansen, who, however, believes that it is more likely that the company will adjust the forecast in a positive direction, to a loss of 5–10 percent.
The company's tablet weight loss product Wegovy, which was launched in the US in January, could help boost sales.
The Wegovy pill has been promising but still represents a fairly small portion of the overall business volume, says Hansen.
Market in Denmark
Novo Nordisk is Denmark's most valuable company. Approximately one-fifth of the country's exports consist of pharmaceuticals.
If Novo's sales increase by 10 percent instead of decreasing by 10 percent, it will be noticeable in Denmark and in tax revenues. But Denmark is much more than just Novo Nordisk. However, the company plays a major role in the Danish stock market.
Foreign investors are looking at Novo Nordisk. If Novo does well, they will have an appetite for other Danish stocks as well.
The pharmaceutical company's share price has halved over the past three years. Novo's setbacks have led global investors to reduce their holdings in Danish companies, Hansen says.
So the report means something to all of Denmark.
