Guidance Fallout

The guidance triggered a sharp market reaction. Shares fell 18 % in Copenhagen and up to 20 % on 4 Feb 2026 following the 2026 outlook, wiping approximately $32 bn–$47 bn of market value. The decline was driven by expectations of a 13 % drop in 2026 sales and profits, the first negative growth outlook in years, and intensified competition from generics and copy‑cat GLP‑1 products, which serve about 1.5 million Americans. A brief trading halt later that day saw the stock slide 5 % after mixed 2025 earnings were released.