After a period of volatility, Danish pharmaceutical giant Novo Nordisk reported positive signals in Q1 2026. The most significant highlight was the record-breaking launch of the oral version of its obesity drug Wegovy, allowing the company to gain an early lead over rival Eli Lilly.
Revenue and the power of oral therapies
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Financial results: Adjusted net sales reached 70.1 billion kroner (approx. $11 billion). While total sales dipped 4% year-over-year due to declines in the insulin portfolio, the obesity care segment grew by 22%.
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Wegovy pill record: In just 16 weeks since its U.S. launch, the Wegovy pill generated $355 million in revenue, with over 1 million users and approximately 2 million total prescriptions.
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New patient base: About 80% of patients taking the Wegovy pill are new to the GLP-1 class, demonstrating market expansion with limited cannibalization of the injectable version.
The “Sweet Spot” pricing strategy CEO Mike Doustdar described the current pricing as a “sweet spot” that balances profit with market penetration speed:
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Self-pay pricing: The starting 1.5-mg dose is set at $149/month, with the highest doses reaching $299/month for cash-paying patients.
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Long-term vision: While confident in the current pricing, Doustdar admitted that prices must eventually come down to reach hundreds of millions of patients worldwide.
The race against Eli Lilly Competition in the oral obesity market is intensifying following Eli Lilly’s April launch of Foundayo. However, Novo Nordisk leadership remains confident in their competitive edge:
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Superior efficacy: The Wegovy pill demonstrates an average weight loss of 17%, compared to 12.4% for its rival.
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Tolerability: Indirect comparisons suggest oral Wegovy has a lower chance of treatment discontinuation tied to side effects.
Driven by the strong performance of its GLP-1 franchise, Novo Nordisk has slightly upgraded its full-year 2026 revenue forecast to a range of approximately $42 billion – $45.3 billion.