Novo Nordisk raises 2026 outlook as Wegovy pill beats forecasts

Novo Nordisk Boosts 2026 Outlook Amid Strong Wegovy Pill Performance

Wegovy Pill Drives Novo Nordisk’s Financial Growth and Outlook

By Jacob Gronholt-Pedersen and Patrick Wingrove

Strong Third-Quarter Sales and Market Performance

COPENHAGEN, Nov 4 (Reuters) - Novo Nordisk's Wegovy weight-loss pill beat third-quarter sales forecasts and the drug maker lifted its full-year outlook again on Wednesday, boosting efforts to regain lost ground to US rival Eli Lilly <LLY.N>.

The pill, launched in the US in January, brought in 5.39 billion Danish crowns ($810 million). That was up 53% on the second quarter and above the 4.62 billion consensus. The US accounted for 4.18 billion crowns and international markets 1.22 billion. Novo said US prescriptions hit about 3.6 million in the quarter and more than 8 million since launch.

Upgraded 2026 Forecasts

Novo also raised its 2026 adjusted sales and adjusted operating profit forecast to a range of between +2% and -2% at constant exchange rates, from a previous forecast of a 0% to 6% fall. It was the third time the company raised its full-year guidance.

The company said the improvement was driven by higher expectations for GLP-1 sales in both the US and international markets.

Competitive Landscape and Market Share

Lilly also raised its outlook last week after beating profit estimates on booming demand for its injectable weight-loss drugs.

Wegovy Pill’s Role as a Growth Driver

PILL SEEN AS GROWTH DRIVER

Novo's pill makes up only about 6% of expected sales, but analysts see it as Novo's main route back to growth, after a two-year slump of profit warnings and a leadership change. US sales of injectable Wegovy fell 13% at constant exchange rates, although combined US Wegovy sales rose 21%.

Novo, which at one point became Europe's most valuable listed company on booming Wegovy sales, is also trying to narrow a gap to Lilly, whose rival Foundayo pill is winning a growing share of new prescriptions.

Financial Results and CEO Statement

Adjusted operating profit was 31.72 billion Danish crowns, above the 28.39 billion projected by analysts and up 27% at constant exchange rates from a year earlier. Adjusted sales were 79.20 billion crowns against 73.22 billion expected.

"Growth was led by our obesity portfolio, with continued uptake of Wegovy pill in the US and encouraging early launches internationally," CEO Mike Doustdar said in a statement.

Currency Exchange and Reporting Notes

($1 = 6.6544 Danish crowns)

(Reporting by Jacob Gronholt-Pedersen, editing by Terje Solsvik and Louise Heavens)