Business Context and Reporting Period
Company: Novo Nordisk A/S
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: February 16, 2026
Subject: Update on Share Repurchase Programme and Treasury Share Holdings
Novo Nordisk A/S, a leading global healthcare company headquartered in Denmark, reported on the execution of its share repurchase programme initiated on February 4, 2026. The company operates in approximately 170 countries with a workforce of about 68,800 employees.
Key Financial Metrics and Capital Allocation
This filing focuses on capital allocation activities rather than operational financial performance (revenue, profit, or cash flow). Key metrics regarding the share repurchase programme as of February 13, 2026, include:
- Total Repurchase Programme Cap: Up to DKK 15 billion over a 12-month period starting February 4, 2026.
- Current Sub-Programme Cap: Up to DKK 3.8 billion for the period February 4, 2026, to May 4, 2026.
- Shares Repurchased (Feb 4–13, 2026): 1,750,000 B shares.
- Total Transaction Value: DKK 533,796,640.
- Average Purchase Price: DKK 305.03 per B share.
- Treasury Shares Held: 19,139,799 B shares (0.4% of total share capital).
Material Changes and Transaction Details
The filing details specific transactions executed under the "Safe Harbour Rules" between February 9 and February 13, 2026:
| Date | Number of B Shares | Average Price (DKK) | Transaction Value (DKK) |
|---|---|---|---|
| Feb 9, 2026 | 200,000 | 316.75 | 63,350,902 |
| Feb 10, 2026 | 200,000 | 314.24 | 62,848,248 |
| Feb 11, 2026 | 200,000 | 306.43 | 61,286,959 |
| Feb 12, 2026 | 200,000 | 308.68 | 61,736,898 |
| Feb 13, 2026 | 200,000 | 311.38 | 62,275,730 |
Note: An additional 143,527 B shares were transferred due to incentive programmes during this period; these were not part of the Safe Harbour repurchase programme.
Guidance, Outlook, and Management Commentary
Outlook: Novo Nordisk expects to repurchase B shares totaling up to DKK 15 billion during the 12-month period commencing February 4, 2026.
Management Commentary: The company reaffirmed its commitment to returning capital to shareholders through this structured buyback initiative. The filing does not provide specific operational guidance, revenue forecasts, or margin commentary for the fiscal year.
Investor Verification Checklist
- Verify the remaining capacity under the DKK 15 billion total programme and the DKK 3.8 billion sub-programme.
- Confirm the current market price of B shares relative to the average repurchase price of DKK 305.03.
- Review the total number of treasury shares (19,139,799) against the total share capital (4,465,000,000) to assess dilution impact.
- Check for subsequent filings regarding further repurchase activity after February 13, 2026.