Novo Nordisk presented its long-term strategic objectives at a capital markets day in London, with shares declining 6% following the announcement. The company stated that its targets represent strategic ambitions rather than formal financial guidance, emphasizing the inherent uncertainty surrounding the projections.
Regarding financial performance, Novo Nordisk expects compound annual revenue growth between 2026 and 2030 to align with that of major pharmaceutical industry peers, while maintaining a broadly stable adjusted operating margin. The company identified a comparison group consisting of Eli Lilly, AstraZeneca, Gilead, Johnson & Johnson, AbbVie, Novartis, Sanofi, Roche, GSK, Amgen, Merck & Co., Biogen, Pfizer and Bristol Myers Squibb for measuring its performance over the stated period.
On the product development front, Novo Nordisk aims to launch more than five medicines with blockbuster sales potential across multiple indications by 2030. The company intends to maintain at least five Phase 3 programmes focused on obesity and diabetes, along with at least five additional late-stage programmes in other therapeutic areas. Additionally, the risk-adjusted development pipeline, including existing assets, is expected to generate more than DKK 150 billion in sales by 2035.
Expanding access to treatments represents another key objective, with the company planning to make oral GLP-1 treatments available to ten times as many people with obesity through expanded manufacturing and supply capacity. Novo Nordisk also targets reaching more than 60 million patients globally by 2030. The company intends to maintain an attractive dividend per share alongside these operational and development goals, with all ambitions using 2026 as the baseline year.
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