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U.S. COMPANY FILING

NOVO NORDISK A S — Form 20-F filed 2026-02-04

Filed: 2026-02-04Company: NOVO NORDISK A STicker: NVOExchange: NYSEForm: 20-FReport period: 2025-12-31SEC accession: 0000353278-26-000012Event: otherMateriality: 0

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Novo Nordisk's 2025 Form 20-F reports continued growth but increased competition, losing GLP-1 market share. Wegovy revenue grew 36% to DKK 79 billion. CEO change in August 2025 and company-wide transformation in September. US 340B revenue of USD 4.2 billion to be recognized in Q1 2026. Faces pricing pressure, supply constraints, and climate risks.

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