Novo Nordisk starts first tranche of a DKK 15 billion share buyback

Novo Nordisk started the first tranche of its 2026 share buyback on 4 February 2026, with up to DKK 3.8 billion of B shares to be bought through 4 May 2026. The full 2026 programme is up to DKK 15 billion over twelve months. The buyback gives some support to the shares after the guidance shock, and it is aimed at reducing share capital.

• Full 2026 programme: up to DKK 15 billion within 12 months
• First tranche: up to DKK 3.8 billion, 4 February to 4 May 2026
• Up to 400 million B shares in this tranche
• Lead manager: Nordea Danmark