Novo Nordisk has raised its outlook for the year after a surge in demand for its new Wegovy weight-loss pill helped the pharmaceutical giant beat market expectations, in a further sign that oral obesity treatments are reshaping one of the fastest-growing areas of global healthcare.
The Copenhagen-based drugmaker said the pill, launched in January, had delivered the strongest debut of any obesity treatment in the United States, propelling prescriptions and sales well ahead of analysts’ forecasts and sending shares higher in early trading on Wednesday.
The group is now locked in an increasingly intense battle for dominance in the weight-loss market with US rival Eli Lilly, whose Mounjaro and related therapies have also driven rapid growth in the sector.
Novo Nordisk said more than two million prescriptions of the Wegovy pill have been issued since its launch, with weekly volumes now exceeding 200,000. Sales reached 2.26bn Danish krone (£261m) in the quarter to March 31, ahead of market expectations.
The company said the early performance of the tablet version marked a significant milestone in obesity treatment, with executives arguing it is helping to establish a new category of oral GLP-1 therapies, complementing its existing injectable drugs.
Mike Doustdar, the company’s chief executive, said Wegovy was “driving a strong start to 2026”, adding that rapid adoption of the pill reflected growing demand for more convenient weight-loss treatments.
“As the global momentum behind peptide-based therapies accelerates, Wegovy pill is defining a novel category as the only oral peptide for the treatment of obesity,” he said. “This is setting a new benchmark for what patients and physicians can expect.”
He added that stronger-than-expected performance, alongside continued international growth, had led the company to upgrade its forecast for both sales and operating profit for the year.
Despite the upbeat outlook, the group’s broader results still reflected pressure across its portfolio. Adjusted net sales fell 10pc in the quarter, while operating profit declined 15pc, as the company continues to adjust following a period of rapid volatility in demand for its injectable weight-loss drugs.
Novo Nordisk also said full-year sales could still fall by as much as 12pc, though this was an improvement on previous guidance of a 13pc decline, suggesting stabilisation after a turbulent period for the sector.
The obesity drug market has become one of the most closely watched areas in global pharmaceuticals, with analysts expecting it to grow into a multi-billion-dollar industry over the coming decade as new tablet-based treatments broaden access beyond injectable therapies.
Chris Beauchamp, chief market analyst at IG, said the latest update suggested the company was moving back towards a more sustainable growth path after a period of extreme market volatility.
“After the madness of the last three years it looks like Novo’s shares are returning to their longer-term trend,” he said. “The euphoria that saw the shares reach such dizzying highs has entirely evaporated, but today’s numbers still point to a very healthy business and a long-term opportunity in Wegovy.”
He added that while the immediate hype around obesity drugs may have cooled, the underlying shift in treatment options remained a “more consequential story in the long run”, particularly as oral alternatives begin to scale.
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