The first quarter of 2026 showed that Novo Nordisk was able to exceed investor and analyst expectations thanks to the successful promotion of its new oral weight-loss drug Wegovy. Sales of the medication in the United States surpassed forecasts, allowing the company to strengthen its position in the GLP-1 market and narrow the gap with U.S. competitor Eli Lilly, which recently launched its own alternative, Foundayo.
At KeyToFinancialTrends, we see this as a signal that the company’s bet on innovative oral drug formulations is paying off. As a result, the company’s shares rose by 5.8% on the first day after the earnings report was published, marking the largest single-day gain since the beginning of the year. This growth demonstrates investor confidence in Wegovy’s commercial potential.
Novo Nordisk’s adjusted operating profit amounted to 32.86 billion Danish kroner, or 5.16 billion USD, significantly exceeding the forecast of 28.74 billion kroner. Sales of the oral version of Wegovy reached 2.26 billion kroner, almost double analysts’ expectations. At KeyToFinancialTrends, we believe this confirms the drug’s attractiveness for patients who value convenient dosing forms, as well as the effectiveness of the company’s marketing strategy.
Competition in the U.S. market intensified after the FDA approved Eli Lilly’s drug Foundayo, depriving Novo Nordisk of its unique position as the only oral treatment option for obesity. This creates new challenges for the company, including the need for active engagement with physicians, patient retention, and flexible pricing policies to maintain market share.
The international launch of Wegovy, scheduled for the second half of 2026, will be a key driver of revenue growth. Since the beginning of the year, total prescriptions have reached about 1.3 million, and since launch more than 2 million. At KeyToFinancialTrends, we note that this makes Wegovy one of the most successful GLP-1 products by sales volume, confirming strong demand and trust from both patients and healthcare professionals.
More than half of U.S. sales now go through accessible self-service channels, allowing the company to expand market reach and reduce dependence on more expensive distribution channels. We see this as a strategic move to maintain competitiveness under increasing pricing pressure.
Adjusted revenue for the quarter amounted to 70.06 billion Danish kroner, exceeding the forecast of 69.07 billion. This confirms Novo Nordisk’s ability to maintain strong margins while successfully introducing new pharmaceutical products.
Despite sales growth, the company’s shares have fallen nearly 40% over the past 12 months, underperforming Eli Lilly by 18%. Nevertheless, at KeyToFinancialTrends we see potential for recovery in the company’s valuation and strengthening of its global leadership through Wegovy’s international expansion and patient retention in the U.S. market.
Key factors for future success will include product rollout in new markets, patient retention, and pricing strategy adaptation. We forecast stable revenue growth for Novo Nordisk and strengthening leadership in the weight-loss drug segment. Investors are advised to closely monitor sales dynamics, competitor activity, and the progress of the international launch, as these will determine the pace of recovery and long-term growth.
The GLP-1 weight-loss drug market continues to expand rapidly in the United States and Europe, with projected annual demand growth of 15–20%. Novo Nordisk, leveraging Wegovy’s success, may increase its market share over the next 3–5 years, especially with a successful global rollout and competitive pricing in new markets. We at Key To Financial Trends forecast sustained company growth and recommend considering Novo Nordisk shares as a long-term investment opportunity in the innovative pharmaceutical sector.
