Novo Nordisk A/S (NVO) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Q4 2025 Novo Nordisk Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Michael Novot, Head of Investor Relations. Please go ahead. Thank you very much, and welcome to this Novo Nordisk earnings call for the full year of 2025. My name is Michael Novot. I'm the Head of Investor Relations at Novo Nordisk. With me today I have CEO of Novo Nordisk, Mike Dustar, EVP Product and Portfolio Strategy, Ludovic Helfgott, EVP US Operations, Dave Moore, EVP Research and Development and Chief Scientific Officer, Martin Holtz-Lange, and Chief Financial Officer, Carsten Munch-Nusen. All speakers will be available for the Q&A session. Today's call is being webcasted live, and a recording will be made available on our website. The call is scheduled to last one hour. Next slide, please. The presentation is structured as outlined on slide two. Please note that all sales and operating profit growth statements will be at constant exchange rates unless otherwise specified. Next slide, please. We need to advise you that this call will contain forward-looking statements. These are subject to risk and uncertainty that could cause actual results to differ materially from expectations. For further information on the risk factors, please see the company announcement for the full year ...