Novo Nordisk reverses a USD 4.2 billion 340B provision, excluded from adjusted results

Novo Nordisk reversed a provision of USD 4.2 billion linked to the US 340B Drug Pricing Program, recorded in the first quarter of 2026. The company treats the reversal as non-recurring and excludes it from its new adjusted measures. For traders, reported sales and profit are inflated by it, so the adjusted figures are the better guide to the underlying trend.

• USD 4.2 billion provision reversal, recorded in Q1 2026
• Comparable exclusion in 2025 was USD 400 million
• Reported figures are inflated; adjusted figures show the underlying decline