Updated version 2 - Novo Nordisk raises its 2026 performance forecast due to Wegovy oral medication outperforming expectations

Added performance outlook in the introduction; paragraphs 4-6 detail the performance

Jacob Gronholt-Pedersen/Patrick Wingrove

Reuters Copenhagen, November 4 - Novo Nordisk’s NOVOb.CO weight-loss drug Wegovy surpassed sales expectations in the third quarter, and the company on Wednesday again raised its full-year performance outlook, stepping up efforts to win back market share claimed by U.S. competitor Eli Lilly <LLY.N>.

This weight-loss drug, launched in the US in January, recorded sales of 5.39 billion Danish kroner ($810 million). The figure represents a 53% increase from the second quarter and exceeds the analyst consensus forecast of 4.62 billion kroner. The US market contributed 4.18 billion kroner, and international markets contributed 1.22 billion kroner. Novo Nordisk stated that U.S. prescriptions for the quarter reached about 3.6 million, with cumulative prescriptions since launch exceeding 8 million.

Novo Nordisk also raised its adjusted 2026 sales and adjusted operating profit forecast to a range of +2 % to -2% at constant exchange rates, previously forecast as a decline of 0% to 6%. This is the company’s third time raising its full-year performance guidance.

The company stated that improved performance is mainly due to expected increases in GLP-1 class drug sales in both the US and international markets.

Eli Lillylast weekalso raised (link)its performance outlook after surging demand for its injectable weight-loss drug propelled profits beyond expectations.

Oral drugs seen as growth engines

Novo Nordisk’s tablet products account for only about 6% of expected sales, but analysts believe that after two years of profit warnings and performance slumps caused by leadership changes, the tablet will be a main route for Novo Nordisk’s return to growth. At constant exchange rates, sales of injectable Wegovy in the U.S. fell 13%, although total U.S. Wegovy sales rose 21%.

Novo Nordisk, once Europe’s highest-valued listed company due to surging Wegovy sales, is now working to close the gap with Eli Lilly—whose competing tablet “Foundayo” is capturing greater market share in new prescriptions.

Adjusted operating profit was 31.72 billion Danish kroner, above analysts’ forecast of 28.39 billion , representing year-on-year growth of 27% at constant exchange rates. Adjusted sales were 79.20 billion kroner , surpassing the expected figure of 73.22 billion.

“Growth is mainly driven by our obesity product portfolio, with rising adoption of Wegovy tablets in the US market and encouraging early performance internationally,” CEO Mike Doustdar said in a statement.

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(1 USD = 6.6544 Danish kroner)

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