Key Highlights
- Novo Nordisk exceeded first-quarter revenue projections significantly, delivering $15.17 billion against analyst consensus of $11.13 billion.
- The company’s adjusted earnings per share reached $1.04, surpassing the anticipated $0.87.
- The oral version of Wegovy, which debuted on January 5, 2026, accumulated more than 2 million total prescriptions and brought in over DKK 2.2 billion during its initial quarter.
- The Danish pharmaceutical giant upgraded its 2026 projections, now forecasting sales and operating profit declines of 4%–12%, an improvement from the previous 5%–13% range.
- Shares of NVO gained approximately 1% following the announcement, though they remain down close to 40% year-over-year.
Novo Nordisk (NVO) stock experienced gains on Wednesday following the pharmaceutical company’s announcement of robust first-quarter financial results and an improved annual forecast, propelled by strong initial uptake of its tablet-based Wegovy product.
Shares of NVO advanced roughly 1% during trading as the earnings data became available. While the stock has shown gradual recovery since the end of March, it continues to trade nearly 40% lower compared to twelve months ago — a marked divergence from competitor Eli Lilly, which has appreciated approximately 18% during the identical timeframe.
First-quarter revenue totaled $15.17 billion, substantially exceeding Wall Street’s projection of $11.13 billion. The company’s adjusted earnings per share of $1.04 outperformed the consensus estimate of $0.87. Operating profit registered at DKK 32.86 billion, surpassing the average analyst forecast of DKK 28.74 billion compiled by the company.
The quarterly performance provided a measure of optimism following a challenging period. Throughout the preceding year, Novo has confronted underwhelming clinical trial outcomes for its next-wave obesity treatment, softer-than-anticipated sales figures, and a precipitous stock decline that wiped away more than $400 billion in market capitalization from its 2024 zenith.
Oral Wegovy Tablet Powers Quarterly Outperformance
The tablet formulation of Wegovy emerged as the quarter’s defining success story. Following its U.S. market introduction on January 5, 2026, the oral medication recorded over 1.3 million filled prescriptions during the first quarter alone. Cumulative prescriptions have already exceeded the 2 million threshold since the product’s launch. The pill generated revenue surpassing DKK 2.2 billion in its inaugural market quarter.
This oral alternative provides Novo with a fresh competitive avenue in the obesity pharmaceutical sector against Eli Lilly, especially targeting patients who favor a once-daily tablet over weekly injections.
Nevertheless, Novo’s exclusive position as the sole provider of an oral obesity medication in the United States proved short-lived. Early in April, Eli Lilly secured FDA clearance for its rival oral treatment, Foundayo, intensifying the competitive landscape between the pharmaceutical giants.
Lilly recently elevated its own annual revenue and profit projections, citing robust demand for its weight-management and diabetes medications.
Forecast Improved, Yet Challenges Persist
Novo revised its 2026 financial outlook, now projecting adjusted sales and operating profit to contract between 4% and 12% measured in constant currencies. This represents an upgrade from the earlier forecast range of -5% to -13%.
CEO Mike Doustdar, who assumed leadership last year, attributed the enhanced guidance to the oral Wegovy product’s strong showing and expansion in global markets.
Nonetheless, the organization continues to face ongoing pricing headwinds stemming from last year’s reductions to its injectable Wegovy formulation. Profitability metrics remain challenged.
Wall Street analysts tracked by TipRanks maintain a consensus Hold recommendation on the stock, comprising one Buy rating and seven Hold ratings. The mean price objective stands at $43.00, approximately 4% beneath NVO’s trading level Wednesday morning.
Analyst assessments and price projections are anticipated to be refreshed in upcoming days following Wednesday’s earnings release.
