Novo Nordisk hiked its annual profit guidance on Wednesday, as the drugmaker said its Wegovy weight-loss pill performed better than expected in the first three months of the year, sending its shares sharply higher.

Novo hiked its 2026 full-year guidance on the back of increased expectations for GLP-1 product sales, saying it now expects adjusted sales and profit to contract between 4% and 12% on a currency-adjusted basis, an improvement on the previously projected decline of between 5% and 13%.