Novo Nordisk A/S (NOVO:CA) Q4 2025 Earnings Call February 5, 2026 8:15 AM EST
Company Participants
Maziar Doustdar – President, CEO & Member of the Management Board
Martin Lange – EVP of R&D, Chief Scientific Officer and Member of the Management Board
Karsten Knudsen – Executive VP, CFO & Member of the Management Board
Michael Novod – Senior VP & Head of Investor Relations
Conference Call Participants
James Quigley – Goldman Sachs Group, Inc., Research Division
Matthew Weston – UBS Investment Bank, Research Division
Peter Verdult – BNP Paribas, Research Division
Richard Vosser – JPMorgan Chase & Co, Research Division
Sachin Jain – BofA Securities, Research Division
Rajesh Kumar – HSBC Global Investment Research
James Gordon – Barclays Bank PLC, Research Division
Evan Seigerman – BMO Capital Markets Equity Research
Simon Baker – Rothschild & Co Redburn, Research Division
Presentation
James Quigley
Goldman Sachs Group, Inc., Research Division
Excellent. So good afternoon, everyone. I’m James Quigley, European pharma analyst here at Goldman Sachs, and it’s a pleasure to welcome to this fourth quarter results presentation for Novo Nordisk. We’ve got a pleasure to be joined by Mike Doustdar, CEO; Karsten Knudsen, CFO; and Martin Lange, Chief Scientific Officer.
So with that, Mike, thanks for joining us. Over to you.
Maziar Doustdar
President, CEO & Member of the Management Board
Thank you very much for hosting us. I promised that I’ll try to go through these slides because I’m sure you’ve seen the slides as fast as possible, so we can actually get a lot of questions into the dialogue of the hour that we have. Forward-looking statements. This is a slide you have seen for the last 5 years. We’ll retire it very soon and give you a new one at the Capital Market Day. It’s one that we created back in 2019, basically setting some guidance for ourselves, what we want to do. Many of the things have
