Novo Nordisk, the Danish pharmaceutical giant behind the weight-loss drug Wegovy, has reported that surging demand for its newly launched oral pill has positioned the company to exceed trading forecasts. Shares in the Copenhagen-based firm rose sharply in early trading on Wednesday following the announcement.
Strong Launch Amid Market Competition
The Wegovy pill was introduced in January, entering a fiercely competitive weight-loss drug market dominated by Eli Lilly's Mounjaro. Novo Nordisk had previously seen sales and profits weaken as demand for its injectable treatments suffered from the rapid rise of rival oral medications. However, the company stated that the Wegovy pill's launch has been the most successful of any obesity drug in the United States.
Since its launch, more than two million prescriptions have been written for the pill, with weekly prescriptions now exceeding 200,000. Sales of the pill reached 2.26 billion Danish krone (£261 million) in the quarter ending March 31, surpassing analyst expectations.
Financial Performance and Guidance
Despite the pill's success, the group's adjusted net sales fell by 10% in the quarter, and adjusted operating profit declined by 15%. For the full year, Novo Nordisk now expects adjusted sales to dip by up to 12%, an improvement from the previous forecast of 13%.
Mike Doustdar, president and chief executive of Novo Nordisk, commented: “Wegovy is driving a strong start to 2026 for Novo Nordisk, led by the rapid adoption of Wegovy pill – the most efficacious GLP-1 tablet now used by more than one million patients since its January launch. As the global momentum behind peptide-based therapies accelerates, Wegovy pill is defining a novel category as the only oral peptide for the treatment of obesity, setting a new benchmark for what patients and physicians can expect. The strong Wegovy performance, combined with continued growth in international operations, has led us to raise our 2026 guidance for both adjusted sales and adjusted operating profit.”
Market Analyst Perspective
Chris Beauchamp, chief market analyst at IG, noted: “After the madness of the last three years it looks like Novo’s shares are returning to their longer-term trend – the euphoria that saw the shares reach such dizzying highs has entirely evaporated, but today’s numbers still point to a very healthy business and a long-term opportunity in Wegovy. It might not have changed the world overnight, but it certainly marked a shift in treatments, a more consequential story in the long run, and one far more beneficial to sensible growth in the share price.”
