Novo Nordisk Q1 Results Lifted by Wegovy Launch
Novo Nordisk Q1 results showed rapid Wegovy tablet uptake and pushed the company to raise 2026 guidance, altering near-term GLP-1 positioning for investors.
KEY TAKEAWAYS
- Wegovy pill generated about $354 million in U.S. Q1 sales with 1.3 million Q1 prescriptions.
- Company raised 2026 adjusted sales and operating-profit growth to -4% to -12% at CER.
- Adjusted operating profit excluding the 340B reversal declined 6% at CER.
HIGH POTENTIAL TRADES SENT DIRECTLY TO YOUR INBOX
Add your email to receive our free daily newsletter. No spam, unsubscribe anytime.
Novo Nordisk reported Q1 results on May 6, 2026, showing rapid adoption of its Wegovy pill. Strong prescription growth prompted the company to raise its 2026 adjusted sales and operating-profit guidance.
Wegovy Launch and Prescription Growth
Wegovy launched in the U.S. on January 5, 2026, generating sales of about $353.6 million (DKK 2,256 million) in the first quarter. The company attributed this strong debut partly to pre-launch pharmacy fills.
Prescriptions climbed quickly, with roughly 1.3 million filled in Q1 and cumulative prescriptions surpassing 2 million since launch. Weekly prescriptions exceeded 200,000 for the week ending April 17, 2026, and more than one million patients were using the pill in the early months.
During the quarter, Novo Nordisk secured multiple approvals for Wegovy HD, which the company said enables roughly 21% weight loss.
Quarterly Results and Raised Guidance
Reported Q1 net sales reached DKK 96,823 million, up 24% in Danish kroner and 32% at constant exchange rates (CER). This growth reflected a reversal of a U.S. 340B Drug Pricing Program provision that boosted headline figures.
Excluding that reversal, adjusted net sales fell 10% in kroner and 4% at CER, as lower realized prices were partly offset by volume growth in GLP-1 products.
Adjusted operating profit excluding the reversal declined 15% in kroner and 6% at CER to DKK 32,858 million, but still exceeded the FactSet consensus of DKK 28.74 billion. Reported operating profit rose 54% in kroner and 65% at CER to DKK 59,618 million.
By segment, adjusted obesity-care sales increased 22% at CER. U.S. operations’ adjusted sales fell 11% at CER as price declines offset Wegovy volume growth, while International operations rose 6% at CER on higher volumes.
The company raised its 2026 adjusted sales and operating-profit growth guidance to a range of -4% to -12% at CER, up from a prior range of -5% to -13%. The revision reflected stronger GLP-1 expectations, the robust Wegovy launch, and continued growth in International operations. Mike Doustdar, president and CEO, said, "The strong Wegovy® performance, combined with continued growth in International Operations, has led us to raise our 2026 guidance for both adjusted sales and adjusted operating profit."
