Will Wegovy Tablets Spark a “Turnaround” At Novo Nordisk?

Key Takeaways

• Wegovy tablets hit 2 million U.S. prescriptions within months
• First‑quarter tablet sales reached $350 million, surpassing forecasts
• Weekly tablet prescriptions climbed to ~200,000 by mid‑April
• Tablets broaden obesity treatment beyond injectables, improving patient adherence
• Analysts view the launch as potential catalyst for Novo’s turnaround

Pulse Analysis

Novo Nordisk’s obesity franchise has been under pressure as investors worried about slowing growth, margin compression, and aggressive competition from Eli Lilly’s Zepbound. The company’s flagship GLP‑1 injectable, Wegovy, has delivered strong sales, but the need for a more convenient delivery method became evident. In early 2026 the firm launched an oral version of Wegovy, joining a small but growing field of oral GLP‑1 agents. The pill promises to lower the barrier for patients who balk at weekly injections, positioning Novo to capture a broader segment of the weight‑loss market.

The market response has been swift. Within a few months, U.S. prescriptions for the Wegovy tablet topped two million, with weekly new starts hovering around 200,000 by mid‑April. First‑quarter revenue from the pill hit roughly $350 million, comfortably beating analysts’ expectations. Those figures eclipse the early uptake of Lilly’s Foundayo tablet, underscoring the speed of adoption. The oral formulation is not cannibalizing injectables; instead, it appears to expand the overall addressable pool, converting patients who previously dismissed injectable therapy.

Analysts now view the tablet as a possible catalyst for a turnaround in Novo’s earnings trajectory. Higher volume sales could offset pricing headwinds and improve margin stability, while reinforcing the company’s leadership in the lucrative GLP‑1 space. The success also signals a shift in obesity care toward more patient‑friendly options, which could accelerate broader insurance coverage and public health adoption. However, sustained momentum will depend on how Novo navigates upcoming competitors, price negotiations, and the need to demonstrate long‑term safety of oral GLP‑1 therapy.