Novo Nordisk A/S (NYSE:NVO) stock is trading lower on Tuesday despite the company raising its fiscal 2026 guidance.
The weight loss drug maker reported second quarter sales of 78.488 billion Danish kroner, up 2% year over year (+3% at constant currency).
However, the sales were down 19% from the first quarter sales of 96.823 billion Danish kroner.
Novo Nordisk said the growth was negatively impacted by a DKK 2.6 billion rebate provision reversal related to the 340B Drug Pricing Program in the second quarter of 2025, creating a tough comparison for the second quarter of 2026.
The company reported adjusted earnings of 6.18 Danish kroner, up 5%.
