Nordic life science staged a strong recovery in the second quarter of 2026. The Nordic HC SEK GI rose 11.33 per cent, recouping broadly all of the first quarter's decline, a move driven largely by Novo Nordisk, whose shares climbed roughly 36 per cent after the Wegovy pill was approved in the UK. This is according to the latest edition of BioStock's quarterly report State of Nordic Biopharma, published today.

The quarter's largest single-stock move came from AlzeCure Pharma, which rose 130 per cent following the out-licensing of its Alzstatin platform to Eli Lilly, followed by a further out-licensing to QuantumCell the day after quarter-end, with a deal value of USD 2.2 billion. The quarter's largest confirmed transaction was Roche/Foundation Medicine's acquisition of Lund-founded SAGA Diagnostics for up to USD 595 million.

At the same time, binary risk was punished hard: Diamyd Medical discontinued its phase III DIAGNODE-3 trial, Xspray Pharma fell 50 per cent on a Complete Response Letter (CRL) for nilotinib, and Sobi was hit by a similar CRL later in the quarter.

Looking ahead to the second half of the year, the analysis highlights a dense calendar of binary events, with PDUFA dates for BioArctic (24 August) and Xspray (25 August), as well as Hansa Biopharma's expected FDA decision on imlifidase on 19 December, as the key milestones.

State of Nordic Biopharma for the second quarter of 2026 is available at biostock.se.

https://biostock.se/en/2026/07/state-of-nordic-biopharma-q2-2026/

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