Novo Nordisk raises 2026 outlook after Wegovy pill momentum lifts sales and profit

Sales are booming for Novo Nordisk’s new weight loss pill.  In its first earnings report since the release of an alternative to its hit GLP-1 shot, Novo Nordisk’s outlook is looking a bit brighter. The company, which now makes Wegovy in pill form, raised its guidance for the year in light of the first quarter’s success.  Novo reported 1.3 million prescriptions for its weight loss pill, which is now available in the U.S., in the first quarter of 2026. The drugmaker plans to launch the pill outside of the U.S. in the second half of the year, expanding the new medication’s reach considerably.  “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,” Novo Nordisk CEO Mike Doustdar said in the report. Doustdar added that the company secured FDA approval for a high dose version of Wegovy, formulated for more dramatic weight loss, in March. Novo beat its own expectations in the first quarter of the year, reporting a 32% pop in sales on a constant currency basis and a 65% boost in operating profit. The adjusted numbers are more modest, with a 4% decrease in sales and a 6% dip in operating profit, but that still beat the company’s projections.  In light of its quarter, Novo is forecasting adjusted sales and profit declines of 4 to 12% for the year, an improvement to the previous projection of 5 to 13%. The company’s shares perked up by more than 5% on its latest numbers.  The company is optimistic that its pill GLP-1 offering will widen the appeal of its weight loss drugs rather than converting existing users of the injectable version. “It’s having not cannibalizations, but a synergetic effect,” CEO Mike Doustdar told CNBC. Pill Pressure Novo’s stock slumped dramatically over the course of the last year, with the Danish drugmaker struggling to recapture the highs it enjoyed in 2024, as GLP-1 medications began to take off. Meanwhile, American rival Eli Lilly’s shares have climbed steadily. Now, the company’s April release of its own weight loss pill, Foundayo, threatens Novo’s plans for a comeback. The Danish drugmaker was first to market with its weight-loss drug Wegovy and that drug’s Type 2 diabetes counterpart Ozempic, but Novo became a victim of its own success. Overwhelming demand led to production struggles, leading to the rise of compounding pharmacies and giving Novo’s direct competitor space to make up lost ground. That dynamic allowed Eli Lilly to explode into the market with its own weight-management drug, Zepbound, and pushed the American drugmaker’s stock to enviable highs.  To right the ship, Novo Nordisk parted ways with its longtime CEO, Lars Fruergaard Jørgensen,  last year. Jørgensen, who steered the company into an unprecedented boom time for weight-loss drugs, was replaced with Novo Executive Vice President of International Operations Mike Doustdar in August. Novo has its work cut out for it, even as the first company to introduce Americans to a GLP-1 weight loss pill. With its early mover advantage quickly dissolving and aggressive price cuts digging into its bottom line, the Danish drugmaker will need to prove that it can keep up in the market it created. “The numbers with the pill speak for themselves,” Doustdar told CNBC.

Novo Nordisk Soars After New Obesity Pill Momentum Lifts Guidance Novo Nordisk shares jumped as much as 9% in Copenhagen, suggesting the stock may finally be bottoming out after a vicious multi-year bear market. The move followed the Danish drugmaker's decision to raise its 2026 guidance ranges for adjusted sales and adjusted operating profit, citing solid momentum in Wegovy sales. Novo now expects full-year sales and profit declines of around 12%, down from a previous forecast of around 13%. The upgraded outlook was "driven by increased expectations for GLP-1 product sales," according to the company. Here's a snapshot of the new full-year forecast, courtesy of Bloomberg: Sees adjusted change in sales at constant exchange rates -4% to -12%, saw -5% to -13%, estimate -7.63% (Bloomberg Consensus) Sees adjusted change in operating profit at constant FX -4% to -12%, saw -5% to -13%, estimate -8.26% The key bright spot was momentum in the Wegovy pill: Wegovy pill was launched in the US on 5 January 2026, and for the week ending 17 April, total weekly prescriptions exceeded 200,000. Coupled with total prescriptions for Q1 2026 of around 1.3 million and now more than 2 million since launch, it marks the strongest-ever GLP-1 volume launch in the US. Q1 2026 sales for the Wegovy pill reached DKK 2,256 million, impacted by pre-launch pipeline fill with wholesalers and telehealth partners. Pending regulatory decisions, the first Wegovy pill launches outside the US are expected during the second half of 2026. "We have seen more than 1 million people using the Wegovy pill," CEO Mike Doustdar told analysts on an earnings call earlier. He noted that patients are switching from competing products, with "limited cannibalization" of Novo's other drugs. Still, Novo's overall business remains under pressure. First-quarter sales fell 10% to 70.1 billion Danish kroner, while adjusted operating profit dropped 15%. Diabetes drug sales fell 18%, with Ozempic hitting its lowest level in two years. Novo is trying to regain momentum after losing market share to Eli Lilly's Zepbound injection. Novo shares in Copenhagen jumped as much as 9%. Shares have been locked in a vicious, nearly two-year bear market, down 70% from their peak. Analyst commentary, courtesy of Bloomberg: Barclays (equal weight) Oral Wegovy was "off to a strong start," analyst James Gordon writes in a note. Sees questions on supply capacity when the pill launches in other countries, expected in 2H Sees FY consensus expectations being increased by low single- digits BMO Capital Markets (market perform) The Wegovy pill "makes a splash" in its debut, analyst Evan Seigerman writes in a note. It's encouraging that roughly 15%-16% of pill patients are filling scripts for the highest dosages. This "could be a leading indicator for improved revenue going forward, given their higher price." Wegovy and Ozempic injectables also beat expectations, "showing more resilience in the face of competition within class" Jefferies (hold) Although the 2026 guidance was nudged higher, it still leaves consensus expectations at the upper end of the range, analyst Michael Leuchten writes in a note. The change in guidance probably won't have a positive impact on consensus estimates. It could actually drag pretax profit and EPS expectations down a couple of percent. Intron Health (sell) Sales beat expectations by 1%, driven by Wegovy pill stocking of ~$125m, analyst Naresh Chouhan writes in a note Meanwhile, gross margin was 30 bps worse than expected Morgan Stanley (equal weight) 1Q sales were a "small" beat, driven by the Wegovy pill — helped by stocking — and international operations, analyst Thibault Boutherin writes in a note Lower operating costs helped the adjusted EBIT beat Still sees the bottom end of the guidance as "conservative" and expects the company to finish the year "in the upper half of the guidance." Did Novo finally bottom? Tyler Durden Wed, 05/06/2026 - 06:55