The European Medicines Agency recommended approval for Novo Nordisk's weight-loss pill Wegovy, the regulator said on Friday, clearing its path to become the first oral weight loss drug in Europe, ahead of U.S. rival Eli Lilly.
Novo Nordisk's (NYSE:NVO) oral version of its blockbuster weight-loss drug Wegovy continues to outpace its main competitor despite a slight weekly decline in prescriptions, according to Citi's latest tracking data. The bank's weekly prescription tracker, based on IQVIA data, showed Wegovy pill reaching approximately 137,000 total prescriptions in its 18th week on the US market, a 4% decline week on week.
Novo Nordisk sees a "major opportunity" outside of the U.S. and says that telehealth partners could help grow the global market for weight loss drugs. The battle for dominance over the lucrative market has so far focused largely on the key U.S. market, currently accounting for more than half of both Novo's and Eli Lilly's respective sales.
Novo Nordisk has had a stellar past month at the stock markets with a 25% rise after it touched multi-year lows earlier this year. Fuelling the rise are oral Ozempic and Wegovy pill launches, alongside FDA approvals and telehealth collaborations. The company even managed to trivially raise sales guidance. With low market multiples, I retain a Buy rating as the company's restructuring efforts are beginning to bear fruit.
Novo Nordisk A/S NYSE: NVO said its first quarter of 2026 was marked by rapid uptake of its newly launched Wegovy pill in the U.S., continued expansion of its obesity franchise and a series of pipeline and regulatory milestones, even as adjusted sales declined because of lower realized prices.
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The company said the majority of the weight loss—around 84%—came from losing body fat while preserving muscle function and improving muscle health.
Novo Nordisk stock jumps 21% in a month after a Q1 beat and stronger GLP-1 demand, but pricing pressure and Eli Lilly rivalry still cloud its 2026 outlook.
New generics in Canada likely mark the start of a decline in international revenue of semaglutide, the active ingredient in Novo's Ozempic and Wegovy.
Novo Nordisk A/S remains a cautious long, with Q1 2026 adjusted sales and EBIT under pressure but guidance raised on strong Wegovy pill uptake. NVO trades at a historically low 12.5x TTM P/E, reflecting market pessimism despite potential for post-2026 growth and multiple expansion. Competitive risks from Eli Lilly and generics in India and China persist, but higher-dose semaglutide and leading diabetes franchise support the investment case.
CNBC's Angelica Peebles speaks with Novo Nordisk CEO Mike Doustdar about the company's quarterly report, the strong launch of the Wegovy pill and what else Novo Nordisk has to come in the pipeline. He says he's always open to doing deals that will strengthen the portfolio and it's part of the company's mindset not to become to complacent or arrogant about Novo's “fantastic” pipeline as it stands.
Novo Nordisk stock jumps as Q1 earnings and revenues beat estimates, fueled by strong Wegovy and Ozempic demand and a raised 2026 outlook.