Wegovy Pill Sales Reach 5,394 Million Kroner in Third Quarter, Exceeding Expectations
Key Facts
Novo Nordisk said on November 4 that Wegovy pill sales reached 5,394 million Danish kroner in the third quarter of 2026, according to the company’s quarterly results. Reuters reported that sales rose 53% from the second quarter, exceeding analysts’ estimates of 4.62 billion kroner. The result put the pills at the forefront of the company’s earnings news, as U.S. sales of injectable Wegovy declined. U.S. injection sales fell 13% year on year, according to Reuters, while combined U.S. Wegovy sales rose 21%. The company said total quarterly sales were 79,195 million kroner, up 6% in Danish kroner and 4% at constant exchange rates from the same period a year earlier.
The company had launched the pills in the United States, the UAE, the United Kingdom and Germany by the end of the third quarter, according to its statement. It added that launches in 4 other countries after quarter-end brought the number of markets reached by the pills to 8 by November 4. Novo plans to launch them in more than 20 countries by mid-2027, Reuters reported. That brings forward the timeline the company previously announced: the end of 2027. The broader rollout comes as drugmakers compete for the obesity-treatment market. Reuters quoted a portfolio manager at Union Investment as saying that competition in the market is set to become more challenging.
Novo said adjusted sales growth in the third quarter was underpinned by continued growth in GLP-1 medicine volumes in the United States and international markets, with growth driven mainly by obesity treatments. The company added that Wegovy accounted for more than 50% of new treatment starts in the branded U.S. obesity market. Chief Executive Mike Doustdar said the company had "managed to maintain its position" since rival Eli Lilly launched alternative pills, adding that Lilly was trying hard to turn the tables. Reuters had reported that the company raised its 2026 outlook for the third time this year. Competition between pills and injections, and among drugmakers, makes launch results one of the factors the market is watching in the obesity-drug sector.
On profitability, Novo said reported operating profit fell 9% year on year at constant exchange rates in the third quarter, affected by non-cash impairment charges of 8.7 billion kroner. By contrast, the company attributed adjusted operating profit growth to higher sales of GLP-1 medicines and a favorable comparison with corporate transformation costs. Those costs amounted to 9 billion kroner in the third quarter of 2025, according to the company’s statement. Adjusted sales also rose on growth in GLP-1 medicine volumes in U.S. and international operations, particularly obesity medicines. The figures show reported operating profit moving in a different direction from the factors that supported adjusted growth during the quarter.
Novo raised its 2026 outlook, forecasting adjusted sales growth and adjusted operating profit growth in a range of -2% to +2% at constant exchange rates. The company said the improved outlook reflected higher estimates for sales of GLP-1 products. Following the guidance increase, its shares rose as much as 6.6% in early trading on November 4 and were up 4.2% at 1318 GMT, according to Reuters. The following day, the shares closed at $40.30, according to EL7 data. Doustdar said the company was preparing to launch CagriSema in the United States in early 2027, subject to regulatory approval.