Novo Nordisk's CEO, Mike Doustdar, addressed investors on Wednesday, emphasizing expectations for improving profitability of its GLP-1 product portfolio, particularly Wegovy. This comes after the Danish drugmaker raised its full-year profit and sales outlook, driven by increased expectations for GLP-1 product sales and the Wegovy portfolio, which includes both an injectable and a pill. The company reported a second-quarter adjusted operating profit of DKK 33.4 billion ($5.15 billion), an 11% year-on-year increase, surpassing the mean forecast of DKK 28.74 billion.
Despite the positive outlook revision, investors showed disappointment, leading to a 6% slip in Novo's U.S.-listed ADRs. This reaction was primarily due to a narrow sales miss for the new Wegovy pill and a trial setback for its next-generation obesity drug, CagriSema. Doustdar highlighted the strong performance of the Wegovy pill, which has garnered over 5 million prescriptions since its launch and captured approximately 90% of the oral obesity market in regions like the U.S., Britain, and the UAE, despite competition from Eli Lilly's rival pill. The company plans to launch the drug in Germany soon, following European regulatory approval.
Novo Nordisk now forecasts adjusted sales growth for 2026 to be between 0% and -6% at constant exchange rates, an improvement from the previous range of -12% to -4%. Similarly, adjusted operating profit growth is also expected to be in the 0% to -6% range, up from -12% to -4%. The CEO stressed that the pill market could become a significant part of the obesity treatment landscape, though the launch is still relatively new.
