Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — Investor Day (September 2026)
16 slides from Novo Nordisk A/s Class B's investor day presentation, Sep 21, 2026
Slide 1: Obesity
Obesity Hong Chow CMD26 EVP, Product & Portfolio Strategy Martin Holst Lange CSO, EVP, Research & Development Capital Markets Day 21 September
Slide 2: Forward-looking statements
2 Obesity Forward-looking statements Novo Nordisk’s statutory Annual Report 2025, Form 20-F, any quarterly financial reports, the materials displayed and other information provided (orally or in writing) at this Capital Markes Day as well as written information released, shown, or oral statements ma
Slide 3: The global obesity market is rapidly expanding yet remains nascent
3 Obesity The global obesity market is rapidly expanding yet remains nascent with a large and growing unmet need The addressable market continues to With treatment penetration <2% the Obesity is associated with more than 200 expand as obesity prevalence grows obesity market has a long growth runway
Slide 4: Novo is uniquely positioned to shape the future obesity market
4 Obesity Novo is uniquely positioned to shape the future obesity market Market size Expansion into comorbidities and adjacencies From weight-loss Consumer Cardio-metabolism to health centric Liver disease management ecosystem Market growth Increased Economies Price competition of scale elasticity D
Slide 5: Winning in obesity requires meeting distinct needs of HCPs, patients, and consumers
5 Obesity Winning in obesity requires meeting the distinct needs and preferences of healthcare professionals, patients, and consumers Key decision maker in Influencing key treatment initiation decision maker Patient Traditional patient Changing of decision-making power HCP Pharmaceutical journey pro
Slide 6: Obesity care will increasingly be shaped by unmet needs
6 Obesity Obesity care will increasingly be shaped by unmet needs, and Novo aims to serve across all segments Magnitude of weight loss 32% seek highest possible results for healthy weight loss Affordability Quality >50% are hesitant to initiate or 29% are concerned about losing terminates treatment
Slide 7: Innovation across modalities targets at least one blockbuster launch per year towards 2030
7 Obesity Innovation across modalities targets at least one blockbuster launch per year towards 2030 Key differentiators to unlock patient Rich pipeline with numerous segments shots on goal across all key segments Magnitude Affordability Quality QM GLP-1 Thermostable GLP-1 Oral high-yield GLP-1 Next
Slide 8: CagriSema builds on Wegovy foundational therapy with complementary amylin biology
8 Obesity CagriSema builds on Wegovy® foundational therapy with complementary amylin biology Building on the Wegovy® heritage Complementary effects of GLP-1 and CagriSema has the potential to pioneer amylin biologies the GLP-1 + amylin receptor agonist class Proven semaglutide benefits Potential fir
Slide 9: CagriSema highly attractive weight loss profile with two titration steps
9 Obesity Even at lower doses, CagriSema confirmed to have a highly attractive weight loss profile with just two titration steps In REDEFINE 9, CagriSema demonstrated The ongoing CagriSema development programme further weight loss of 21% with 1.0/1.0 mg dose at 68 weeks1 investigates amylin's potent
Slide 10: Cagrilintide has potential to be first-in-class amylin monotherapy in obesity
10 Obesity Cagrilintide has potential to be first-in-class amylin monotherapy in obesity Weight loss for cagrilintide 2.4 mg in the Cagrilintide’s differentiated amylin-based biology is expected to expand into a new patient REDEFINE 1 trial pool and set a new standard for tolerability 0% Change in b
Slide 11: Zenagamtide aims to be first- and best-in-class GLP-1 and amylin dual agonist
11 Obesity Zenagamtide aims to be first- and best-in-class GLP-1 and amylin dual agonist across injectable and oral formats Zenagamtide demonstrates compelling weight loss in both Future clinical development of oral and injectable subcutaneous and oral formats in obese patients zenagamtide across ob
Slide 12: UBT251 is the next-generation incretin positioned for a high efficacy play
12 Obesity UBT251 is the next-generation incretin positioned for a high efficacy play while targeting different needs in obesity UBT251 demonstrated weight loss of up to 19.7% in a Chinese UBT251 combines high efficacy with an attractive tolerability phase 2 trial after 24 weeks profile across diver
Slide 13: Three highly differentiated oral therapies, addressing diverse patient needs
13 Obesity Three highly differentiated oral therapies, addressing diverse patient needs in weight management Oral zenagamtide Oral amylin 355 Oral ACSL5i Phase 1 Phase 3: AMAZE 9 6 mg n = 170 Non-GLP-1 oral small molecule 12 mg Oral amylin 355 R 25 mg -13% Placebo 12 weeks 50 mg 2x 50 mg ACSL5i mole
Slide 14: Novo is well positioned to lead oral obesity care
14 Obesity Novo is well positioned to lead oral obesity care with a broad portfolio spanning near- and long-term innovation Oral obesity pipeline 2026 2027 2028 2029 Oral zenagamtide Phase 3 Oral amylin 355 Phase 21 Oral ACLS5i Phase 1 Oral high-yield GLP-1 Phase 1 initiation Q4 Continuous improveme
Slide 15: Industry-leading injectable obesity pipeline addresses unmet needs
15 Obesity Our industry-leading injectable obesity pipeline further addresses unmet needs and expands the future obesity opportunity Subcutaneous obesity pipeline 2026 2027 2028 2029 CagriSema US FDA decision RDF 11 CagriSema HD Cagrilintide Phase 3 Cagrilintide HD Zenagamtide Phase 3 Amylin 355 Pha
Slide 16: Industry-leading oral and injectable portfolio expected to drive blockbuster obesity launches
16 Obesity 1 2 3 Industry-leading oral and injectable portfolio Clear and potentially differentiated profiles Significant step up in early clinical expected to drive at least one blockbuster for CagriSema, zenagamtide (sc/oral), pipeline for Obesity in 2026 and 2027 obesity launch per year towards 2