Business Context and Reporting Period
Company: Novo Nordisk A/S
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: February 23, 2026
Subject: Update on Share Repurchase Programme
Novo Nordisk A/S, a leading global healthcare company headquartered in Denmark, reported on the execution of its share repurchase programme. The company employs approximately 68,800 people across 80 countries and markets products in around 170 countries.
Key Financial Metrics and Capital Allocation
This filing focuses on capital allocation via share buybacks rather than operational financial performance (revenue, profit, or cash flow).
- Total Repurchase Programme Cap: Up to DKK 15 billion over a 12-month period beginning 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 (since Feb 4, 2026): 2,750,000 B shares.
- Total Transaction Value (since Feb 4, 2026): DKK 841,997,435.
- Average Purchase Price: DKK 306.18 per B share.
- Treasury Shares Held: 20,139,799 B shares (0.5% of share capital).
- Total Share Capital: 4,465,000,000 A and B shares (including treasury shares).
Material Changes and Transaction Details
The filing details specific transactions executed between February 16 and February 20, 2026, following an initial accumulation of 1,750,000 shares announced on February 16.
| Date | Number of B Shares | Average Price (DKK) | Transaction Value (DKK) |
|---|---|---|---|
| 16 Feb 2026 | 200,000 | 307.89 | 61,578,124 |
| 17 Feb 2026 | 200,000 | 309.73 | 61,945,457 |
| 18 Feb 2026 | 200,000 | 309.63 | 61,925,026 |
| 19 Feb 2026 | 200,000 | 309.29 | 61,858,675 |
| 20 Feb 2026 | 200,000 | 304.47 | 60,893,513 |
Note: The filing does not provide comparative financial data (revenue, profit, margins) versus prior periods as this is a capital allocation update, not a financial results report.
Guidance, Outlook, and Management Commentary
Outlook: Novo Nordisk expects to continue repurchasing B shares up to the total programme limit of DKK 15 billion during the 12-month period starting February 4, 2026.
Regulatory Compliance: The programme is executed in accordance with Article 5 of Regulation No 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 (Safe Harbour Rules).
Risks and Contingencies: The filing does not disclose specific new risks or contingencies beyond standard market execution of the buyback programme.
Key Facts for Investor Verification
- Verify the remaining capacity under the DKK 15 billion total programme (approx. DKK 14.16 billion remaining as of Feb 20, 2026).
- Confirm the current market price of B shares relative to the average repurchase price of DKK 306.18.
- Monitor future 6-K filings for continued execution of the sub-programme ending May 4, 2026.
- Check the company website (novonordisk.com) for detailed transaction logs as referenced in the filing.