Novo Nordisk Reports Q1 2026 Results as Wegovy Pill Launch Surpasses 3 Million Prescriptions
Novo Nordisk A/S (NYSE: NVO) reported a strong start to 2026, driven by the historic launch performance of its oral semaglutide option, the Wegovy pill. Originally launched in the U.S. on January 5, 2026, the Wegovy pill has achieved unprecedented volume growth. In its Q1 2026 earnings release on May 7, 2026, Novo reported that total prescriptions for the pill reached approximately 1.3 million during the quarter and surpassed 2 million by early May. On June 7, 2026, Novo announced that Wegovy pill prescriptions had officially surpassed 3 million, representing one prescription filled roughly every 5 seconds.
Financial Performance & The 340B Provision Impact
On a reported basis, Novo Nordisk's net sales for Q1 2026 increased by 32% at Constant Exchange Rates (CER) to DKK 96.82 billion ($13.9 billion USD), and reported operating profit surged 65% at CER to DKK 59.62 billion ($8.6 billion USD).
However, this massive reported growth was heavily influenced by a DKK 29.2 billion / USD 4.2 billion non-recurring provision reversal related to the 340B Drug Pricing Program in the United States. When excluding this one-time benefit:
- Adjusted Net Sales decreased by 4% at CER to DKK 70.06 billion, driven by lower realized net drug pricing, which offset strong GLP-1 volume growth.
- Adjusted Operating Profit decreased by 6% at CER to DKK 32.86 billion.
- Adjusted Obesity Care Sales grew 22% at CER, reflecting strong volume demand.
- US Operations Adjusted Sales decreased by 11% at CER, illustrating significant net price erosion in the competitive U.S. commercial landscape.
Portfolio & Pipeline Advancements
To counteract competitive pricing pressure and expand its clinical boundaries, Novo Nordisk has advanced several key assets:
- Wegovy HD (7.2 mg): Approved by the FDA in March 2026 and launched in the U.S. on April 7, 2026, Wegovy HD provides an average of 20.7% weight loss (based on the STEP UP trial), allowing Novo to compete more effectively on high-potency efficacy.
- Global Expansion: Novo expects to launch the Wegovy pill in its first markets outside the U.S. during the second half of 2026, having already introduced it in the UAE.
- Clinical Program: Novo officially initiated the zenagamtide AMAZE Phase 3 program for obesity.