Novo Nordisk is widening its drug-development strategy beyond diabetes and obesity as semaglutide patent pressure, Eli Lilly competition, compounders and U.S. pricing concerns weigh on its outlook. At its Capital Markets Day 2026, the company said it aims to introduce more than five multi-blockbuster medicines by 2030 and generate over 150 billion Danish kroner, or about $23.06 billion, in risk-adjusted pipeline sales by 2035. The latest account revises the earlier description of this goal as $23 billion in annual peak sales. Novo is considering bolt-on acquisitions and signed an exclusive global license with Nanexa for up to five peptide programs targeting obesity, type 2 diabetes and other cardiometabolic conditions. The license could provide Nanexa up to 1.165 billion euros, while Novo shares were down 0.26% at $38.52 at publication.