Novo Nordisk raises its 2026 outlook for the third time this year as Wegovy pill sales beat forecasts
Danish drugmaker Novo Nordisk raised its full-year 2026 outlook on Wednesday for the third time this year after third-quarter sales of its Wegovy weight-loss pill beat analyst forecasts. The pill, launched in the United States in January, brought in 5.39 billion Danish crowns ($810 million) in the quarter, up 53% from the second quarter and above the 4.62 billion consensus. Adjusted operating profit rose 27% at constant exchange rates to 31.72 billion crowns, also above expectations. The company also said it will cut US list prices for Wegovy and Ozempic from January and that its finance chief will leave at the end of December.
Key points
- Third outlook raise of 2026: full-year adjusted sales and operating profit now seen between +2% and −2% at constant exchange rates, up from flat to −6%
- Wegovy pill sales of DKK 5.39bn ($810m) in Q3 beat the DKK 4.62bn consensus, up 53% on the previous quarter
- Adjusted operating profit rose 27% to DKK 31.72bn, above the DKK 28.39bn analysts expected
- US list prices for Wegovy and Ozempic fall to $675 a month from January; CFO Karsten Munk Knudsen leaves at the end of December
What happened
Novo Nordisk is clawing back ground in the obesity-drug race after two years of sliding sales, profit warnings and a leadership change, as US rival Eli Lilly's competing pill took share. CEO Mike Doustdar said Novo had held its ground since Lilly launched its rival pill, and has said pills could account for up to half of the obesity market by 2030. In the US, sales of injectable Wegovy fell 13% at constant exchange rates in the quarter, although combined US Wegovy sales rose 21%, and Novo estimates the pill holds about 80% of new-to-brand prescriptions across reimbursed, cash-pay and telehealth channels.
Claim by claim
Why this label: The company's own third-quarter report, carried identically by Reuters and by El País's Cinco Días (queue #1489).
On the ladder: a claim earns Verified from primary evidence, or from two independent sources that do not copy each other.
Why this label: Reuters, from the company's published results; the pill launched in the US in January and makes up about 6% of expected sales.
On the ladder: a claim earns Verified from primary evidence, or from two independent sources that do not copy each other.
Why this label: Reuters reporting of the results against the analyst consensus it cites.
On the ladder: a claim earns Verified from primary evidence, or from two independent sources that do not copy each other.
Show all claims (2 more)
Why this label: Announced by the company and reported by Reuters; the effect on 2027 cash flow is the company's own statement.
On the ladder: a claim earns Verified from primary evidence, or from two independent sources that do not copy each other.
Why this label: Reuters; the CEO pointed to 2027 challenges including loss of semaglutide exclusivity in some markets and continued pressure in China.
On the ladder: a claim earns Verified from primary evidence, or from two independent sources that do not copy each other.
What we know / what we don't know yet
What we know
- The raised 2026 outlook (+2% to −2% at constant exchange rates), the Wegovy pill's Q3 sales and the profit beat, from the company's own report
- The January US list-price cuts for Wegovy and Ozempic and the CFO's end-of-December departure
What we don't know yet
- 2027 guidance — the company declined to give it before February
- How much the January price cuts will actually cost 2027 cash flow
- Whether the pill's momentum holds as Lilly's rival pill competes for the same patients
Why it matters
Obesity medicines are among the biggest-selling drugs in the world, and the shift from weekly injections to daily pills is the industry's next battleground. Novo's beat shows the pill format is pulling in new patients fast — while its planned US price cuts signal how hard the fight with Lilly, and pressure over drug prices, is about to get.
Background
Update history
No silent edits. Every change is written here, with its time.
- Latest
Published (queue #1489, El País Cinco Días; worked from Reuters' report of Novo Nordisk's own third-quarter results, read in full in this pass). Video check: no official Novo Nordisk YouTube video for these results was oEmbed-verified in this pass, so the story publishes without video. Photo is a labelled file photo of a Wegovy pen.