With more than DKK 11.19 billion in B shares already acquired since February, Novo Nordisk (NYSE: NVO) is closing fast on the ceiling of its flagship repurchase initiative.
The Danish pharmaceutical giant has repurchased 40,274,179 B shares at an average price of DKK 277.78 apiece since the broader programme began on 4 February 2026.
That full programme targets up to DKK 15 billion in buybacks spread across a 12-month window, leaving a narrowing margin before the authorised limit is reached.
A subordinate tranche, launched on 6 May 2026 and running until 1 February 2027, carries its own ceiling of just over DKK 11.2 billion in B share purchases.
Conducted under Article 5 of EU Market Abuse Regulation No 596/2014 and the Safe Harbour Rules set out in Commission Delegated Regulation 2016/1052, the programme operates within strict European regulatory boundaries.
During the five trading sessions from 19 to 23 October 2026, the company acquired roughly 240,000 shares each day at prices ranging from DKK 257.23 to DKK 262.77 per share.
The highest single-day outlay during that stretch came on 22 October, when 240,000 shares changed hands at an average of DKK 262.77, generating a transaction value of DKK 63,065,792.
Cumulative purchases under the 6 May sub-programme now stand at 25,515,000 B shares, representing a combined outlay of DKK 7,387,348,112.
As a result of all repurchases to date, Novo Nordisk holds 54,314,876 B shares as treasury stock, equivalent to 1.2% of total share capital.
The company’s combined A and B share count, treasury holdings included, amounts to 4,465,000,000 shares, underscoring the scale of the capital base against which the buyback is being executed.
Novo Nordisk, which employs more than 67,000 people globally, lists its B shares on Nasdaq Copenhagen under the ticker Novo-B, while its American depositary receipts trade in New York under NVO.
Full transaction-level data for each session conducted under the repurchase programme is being published on the company’s website as required under the applicable disclosure rules.
The announcement was designated Company Announcement No 63 of 2026, filed from the company’s headquarters in Bagsværd, Denmark.
