WS Investor
06 May 2026, 09:39
Novo Nordisk Jumps 7.3% in Premarket as Wegovy Pill Smashes Launch Records
May 6, 2026 · Earnings Report
Novo Nordisk surged 7.3% in premarket trading after reporting first quarter 2026 results that showcased explosive demand for its oral weight-loss pill Wegovy, prompting the Danish pharmaceutical giant to raise its full year guidance despite a headline-level distortion from a one-time US pricing program reversal.
Reported net sales for the quarter reached DKK 96.8 billion, up 32% at constant exchange rates, though that figure was significantly boosted by a non-recurring provision reversal of approximately $4.2 billion related to the 340B Drug Pricing Program in the United States. Stripping out that one-time item, adjusted net sales declined 4% at constant exchange rates to DKK 70.1 billion, pressured by lower realized prices in the US, partly offset by strong GLP-1 volume growth across geographies.
Reported operating profit climbed 65% at constant exchange rates to DKK 59.6 billion, while adjusted operating profit, excluding the 340B reversal, declined 6% at constant exchange rates to DKK 32.9 billion.
US Operations remained under pressure on an adjusted basis, with sales falling 11% at constant exchange rates as pricing headwinds outweighed solid volume growth across the Wegovy product portfolio. International Operations offered a brighter picture, with sales up 6% at constant exchange rates driven by higher volumes.
The undisputed highlight of the quarter was the launch performance of the Wegovy pill. Launched in the United States on January 5, 2026, the oral semaglutide tablet has already been used by more than one million patients and recorded total prescriptions of approximately 1.3 million in Q1 alone. For the week ending April 17, weekly prescriptions exceeded 200,000, making it the strongest-ever GLP-1 volume launch in US history. First quarter sales for the Wegovy pill reached DKK 2.3 billion, though the company noted the figure was affected by pre-launch pipeline fill with wholesalers and telehealth partners. Launches outside the United States are expected in the second half of 2026, pending regulatory approvals.
"Wegovy is driving a strong start to 2026 for Novo Nordisk, led by the rapid adoption of Wegovy pill, the most efficacious GLP-1 tablet now used by more than one million patients since its January launch," said Mike Doustdar, president and CEO of Novo Nordisk. "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."
The quarter also brought meaningful pipeline progress. The FDA approved Wegovy HD, an injectable semaglutide formulation at 7.2 mg, in March, with a US launch following on April 7. In the STEP UP clinical trial, Wegovy HD delivered mean weight loss of 20.7%. The FDA also approved Awiqli, described as the first once-weekly basal insulin for type 2 diabetes. In sickle cell disease, the company's etavopivat drug met both co-primary endpoints in the HIBISCUS phase 3 trial, and the zenagamtide phase 3 obesity programme was initiated during the quarter.
On the outlook, Novo Nordisk raised its 2026 guidance on the strength of GLP-1 sales momentum. Adjusted sales growth for the full year, excluding the 340B provision reversal, is now expected in the range of negative 4% to negative 12% at constant exchange rates. Adjusted operating profit growth on the same basis is also expected in the range of negative 4% to negative 12% at constant exchange rates. While those figures remain in negative territory on an adjusted basis, the upward revision to guidance and the pace of Wegovy pill adoption appear to be what the market is responding to in premarket trading.
May 6, 2026 · Earnings Report
Novo Nordisk surged 7.3% in premarket trading after reporting first quarter 2026 results that showcased explosive demand for its oral weight-loss pill Wegovy, prompting the Danish pharmaceutical giant to raise its full year guidance despite a headline-level distortion from a one-time US pricing program reversal.
Reported net sales for the quarter reached DKK 96.8 billion, up 32% at constant exchange rates, though that figure was significantly boosted by a non-recurring provision reversal of approximately $4.2 billion related to the 340B Drug Pricing Program in the United States. Stripping out that one-time item, adjusted net sales declined 4% at constant exchange rates to DKK 70.1 billion, pressured by lower realized prices in the US, partly offset by strong GLP-1 volume growth across geographies.
Reported operating profit climbed 65% at constant exchange rates to DKK 59.6 billion, while adjusted operating profit, excluding the 340B reversal, declined 6% at constant exchange rates to DKK 32.9 billion.
US Operations remained under pressure on an adjusted basis, with sales falling 11% at constant exchange rates as pricing headwinds outweighed solid volume growth across the Wegovy product portfolio. International Operations offered a brighter picture, with sales up 6% at constant exchange rates driven by higher volumes.
The undisputed highlight of the quarter was the launch performance of the Wegovy pill. Launched in the United States on January 5, 2026, the oral semaglutide tablet has already been used by more than one million patients and recorded total prescriptions of approximately 1.3 million in Q1 alone. For the week ending April 17, weekly prescriptions exceeded 200,000, making it the strongest-ever GLP-1 volume launch in US history. First quarter sales for the Wegovy pill reached DKK 2.3 billion, though the company noted the figure was affected by pre-launch pipeline fill with wholesalers and telehealth partners. Launches outside the United States are expected in the second half of 2026, pending regulatory approvals.
"Wegovy is driving a strong start to 2026 for Novo Nordisk, led by the rapid adoption of Wegovy pill, the most efficacious GLP-1 tablet now used by more than one million patients since its January launch," said Mike Doustdar, president and CEO of Novo Nordisk. "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."
The quarter also brought meaningful pipeline progress. The FDA approved Wegovy HD, an injectable semaglutide formulation at 7.2 mg, in March, with a US launch following on April 7. In the STEP UP clinical trial, Wegovy HD delivered mean weight loss of 20.7%. The FDA also approved Awiqli, described as the first once-weekly basal insulin for type 2 diabetes. In sickle cell disease, the company's etavopivat drug met both co-primary endpoints in the HIBISCUS phase 3 trial, and the zenagamtide phase 3 obesity programme was initiated during the quarter.
On the outlook, Novo Nordisk raised its 2026 guidance on the strength of GLP-1 sales momentum. Adjusted sales growth for the full year, excluding the 340B provision reversal, is now expected in the range of negative 4% to negative 12% at constant exchange rates. Adjusted operating profit growth on the same basis is also expected in the range of negative 4% to negative 12% at constant exchange rates. While those figures remain in negative territory on an adjusted basis, the upward revision to guidance and the pace of Wegovy pill adoption appear to be what the market is responding to in premarket trading.