Novo Nordisk's sales increased by 6% in Danish kroner and by 10% at constant exchange rates to DKK 309.1 billion in 2025

Financial Performance - Net sales for 2025 reached DKK 309,064 million, representing a 6% increase compared to 2024, and a 10% increase at constant exchange rates (CER) [2] - Operating profit decreased by 1% in Danish kroner to DKK 127,658 million, but increased by 6% at CER [2][4] - Net profit for 2025 was DKK 102,434 million, a 1% increase from DKK 100,988 million in 2024 [2] - Diluted earnings per share rose by 2% to DKK 23.03 from DKK 22.63 in 2024 [2] Market and Product Insights - Novo Nordisk achieved a 10% sales growth at CER, reaching nearly 46 million patients with its treatments despite a challenging year [3] - Sales in US Operations increased by 3% in Danish kroner and 8% at CER, while International Operations saw a 10% increase in Danish kroner and 14% at CER [4] - Sales in Obesity and Diabetes care grew by 7% in Danish kroner to DKK 289.5 billion, driven by a 26% increase in Obesity care and a 2% increase in GLP-1 diabetes sales [4] Future Outlook - Adjusted sales growth for 2026 is expected to be between -5% to -13% at CER, influenced by lower realized prices and increased competition [4] - The global GLP-1 market is anticipated to expand, with new treatments like the Wegovy pill expected to enhance patient reach [4] - The company plans to propose a final dividend of DKK 7.95 per share for 2025, totaling DKK 11.70 for the year, and initiate a new share repurchase program of up to DKK 15 billion [4]