NEW YORK, January 18, 2024 – Novo Nordisk’s fortunes are turning around thanks to a new weight-loss pill, offering a potential lifeline after a period of struggle following the success of its popular Ozempic pen.
A Pill for What Ails Them
Table of Contents
Novo Nordisk’s Wegovy tablet is showing strong initial sales, signaling a potential shift in the competitive weight-loss market.
- Novo Nordisk shares jumped over 8% on the New York Stock Exchange and 6.5% on the Copenhagen Stock Exchange on January 16th following the launch of the Wegovy tablet in the U.S.
- In its first 10 days, 3,071 prescriptions were issued for the oral weight-loss solution, exceeding analyst expectations.
- Analysts at UBS suggest over 400,000 prescriptions in the first quarter would rival the launch of Eli Lilly’s competing weight-loss drugs.
- the company is prioritizing the U.S. market to avoid the supply shortages experienced with the pen’s 2021 launch.
After a period described as “going from heaven to hell,” the Danish pharmaceutical company appears to have found a new formula for growth: a slimming pill. since the Ozempic slimming pen-which became a global sensation-lost ground with the arrival of Mounjaro from competitor Eli Lilly, Novo Nordisk has faced challenges in satisfying investors.
What makes an oral weight-loss medication so meaningful in a market dominated by injectables? The answer, according to early data, is demand. The Wegovy tablet is proving popular with both new patients and those already using GLP-1 medications like Ozempic. “We are encouraged by the feedback from our employees,” the company stated, according to Reuters, while acknowledging it’s too early to definitively assess sales trends for the oral medication.
Analysts at UBS bank estimate that exceeding 400,000 prescriptions in the first quarter would be comparable to the launch of tirzepatide, marketed as mounjaro and Zepbound by Eli Lilly, which outperformed the Danish company’s pen.
Experts at the German bank Berenberg predict Novo Nordisk’s slimming pill could generate around US$1 billion in sales by 2026,capitalizing on its pioneering status and the temporary period of market exclusivity.
Leadership Change and Market Context
This resurgence comes six months after a change in global leadership.Maziar Mike Doustdar assumed the role of CEO in July 2025, tasked with regaining momentum and identifying new growth opportunities in obesity treatment.
The Wegovy tablets are currently available at CVS, the largest pharmacy chain in the United States, and Costco, as well as through digital channels and Novo Nordisk’s online pharmacy network, NovoCare.
“There are early indications that the Wegovy tablet is an attractive option for both new patients and those seeking to maintain progress made with another GLP-1,” Zach Reitano,CEO and co-founder of Ro,a telehealth company,told Reuters.
Suchita Shah, a senior partner at the BCG healthcare consulting firm in the united States, believes the launches of both the Novo Nordisk pill and the forthcoming lilly pill will substantially boost the weight-loss market this year.
The global market for GLP-1 analog drugs is currently valued at US$62 billion, with the United States accounting for 55% of that share. Brazil represents approximately 3% of the market.
from Market Leader to Recovery
In September 2023, at the peak of Ozempic’s global popularity, Novo Nordisk briefly became the most valuable company in Europe, reaching a valuation of US$425 billion and surpassing the French luxury group LVMH. it even overtook Tesla in March 2024.
Currently, the Danish pharmaceutical company’s market value stands at US$209.25 billion, less than half of its peak valuation two and a half years ago. Over the past 12 months on the NYSE, its shares have declined by 25.5%, with a 35.3% devaluation in Denmark.
