Novo Nordisk Wegovy Pill Beats Forecasts

CNBC reported Wednesday that Novo Nordisk lifted its full-year profit outlook after its oral weight-loss drug, the Wegovy pill, dramatically outpaced analyst expectations in its first full quarter of U.S. sales.

Wegovy Pill Debut Stuns Wall Street

The Danish pharmaceutical giant recorded first-quarter revenue of 96.8 billion Danish kroner, roughly $15.2 billion. That figure surged 32% on a constant currency basis. Analysts polled by FactSet had penciled in just 71.3 billion kroner. Operating profit climbed 65% year-on-year to 59.6 billion kroner, nearly double the consensus estimate of 31.7 billion kroner.

The Wegovy pill itself generated 2.26 billion kroner in sales for the quarter. That was nearly twice the 1.16 billion kroner estimate compiled by Reuters. Novo confirmed approximately 1.3 million prescriptions were written for the tablet format in just three months. The company called it the strongest-ever U.S. launch volume for any GLP-1 product.

A New Frontier for Weight-Loss Drugs

The pill format matters strategically. Injectable GLP-1 drugs have dominated obesity treatment for several years. An effective oral version removes a major adoption barrier for patients who are needle-averse. Investors are tracking the pill’s trajectory closely because it could meaningfully expand the total addressable market beyond current injectable users.

Novo’s broader obesity care segment posted adjusted constant currency sales growth of 22% for the period. The company noted a favorable accounting adjustment tied to the U.S. 340B Drug Pricing Program contributed positively to the top-line figures.

Injectable Drugs Show Mixed Picture

Not every product line delivered a clean beat. Sales of the injectable Wegovy formulation rose 12% year-on-year but came in slightly below estimates tracked by LSEG. Diabetes drug Ozempic saw sales decline 8%, though that result still landed ahead of LSEG projections. The mixed performance in injectables underscores how investor attention is pivoting toward the oral format as the company’s next growth engine.

Guidance Raised Despite Currency Headwinds

On the back of the stronger-than-expected GLP-1 performance, Novo Nordisk revised its 2026 full-year guidance upward. The company now targets adjusted sales and adjusted operating profit each to contract between 4% and 12% on a currency-adjusted basis, an improvement from its previous range. Currency volatility remains a material drag on reported figures given Novo’s heavy U.S. revenue exposure.

Shares of NVO were closely watched in pre-market trading following the announcement. The results arrive as the broader GLP-1 market faces intensifying competition from rivals including Eli Lilly, whose tirzepatide franchise continues to expand globally.

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