Novo Nordisk beats estimates, raises guidance on Wegovy pill surge Proactive uses images sourced from Shutterstock
Novo Nordisk (NYSE:NVO) reported first-quarter results that far exceeded analyst estimates on Wednesday, driven by surging demand for its oral weight-loss pill and strong international sales.
Net sales reached $15.2 billion in the quarter, well above the $11.2 billion analysts had forecast.
Operating profit came in at $9.4 billion, nearly double the $5 billion consensus estimate, up 65% at constant exchange rates.
Gross margin expanded to 85.9%, topping the 81.3% estimate.
Shares were up 3.1% in New York trading on Wednesday morning.
The Danish drugmaker raised its full-year 2026 guidance, now projecting adjusted sales to decline between 4% and 12% at constant exchange rates, an improvement from its prior outlook of a 5% to 13% decline, with adjusted operating profit growth guided to the same range.
Sales of Ozempic, Novo Nordisk’s flagship GLP-1 diabetes drug, came in at $4.4 billion, ahead of the $4.1 billion estimate. Obesity care sales reached $3.3 billion, up 22% at constant exchange rates versus the $3 billion forecast.
The standout performer was the oral version of Wegovy, which generated $354 million in sales against analyst expectations of $182 million. The pill drew approximately 1.3 million prescriptions in the first quarter, with total prescriptions since launch surpassing 2 million. More than 1 million patients have used the pill since its January launch.
Novo Nordisk also noted progress on its higher-dose formulation, Wegovy HD, which received FDA approval in March and launched in the US in April. The product demonstrated 20.7% mean weight loss in its STEP UP phase 3 trial.
On the diabetes side, the company’s once-weekly basal insulin Awiqli received FDA approval as the first-ever treatment of its kind for type 2 diabetes. Additionally, its sickle cell disease candidate etavopivat met both co-primary endpoints in the HIBISCUS phase 3 trial.
On an adjusted basis, net sales totaled $11 billion, down 4% at constant exchange rates, with adjusted operating profit of $5.2 billion, down 6% at constant exchange rates.