How Will Ozempic and Wegovy Sales Aid NVO’s Upcoming Q2 Results?
Ahan Chakraborty
Wed, 29 July 2026 at 9:09 pm GMT+5:30
4 min read
- NVO
+0.94% - NVO
+0.94% - LLY
-0.06%
<a href="https://healthylife7.com/watch-out-eli-lilly-and-novo-nordisk-amgens-monthly-weight-loss-drug-has-6-phase-3-trials-running/" title="Watch Out, Eli Lilly and Novo Nordisk: Amgen's Monthly Weight Loss Drug Has 6 Phase 3 Trials Running -“>Novo Nordisk NVO is a dominant player in the cardiometabolic space, mainly due to the encouraging uptake of its blockbuster semaglutide-based (GLP-1) drugs — Ozempic (for type II diabetes [T2D]) and Wegovy (for obesity)
Since launch, Novo Nordisk has steadily expanded the commercial opportunity for both Ozempic and Wegovy through multiple label expansions. Together, the drugs generated DKK 63.2 billion in the first quarter of 2026, representing about 65% of NVO’s total sales. Investors will be most interested in the sales numbers for these two drugs when Novo Nordisk reports second-quarter 2026 results on Aug. 5
Novo Nordisk has also broadened its oral semaglutide franchise. Following the FDA approval of the oral Wegovy pill to treat obesity and reduce cardiovascular risk in late December, the drug was launched in the United States in early January, offering a more convenient alternative to injections. The pill has already surpassed three million prescriptions since launch, indicating strong early uptake. Earlier this month, oral Wegovy also received approval in the EU, setting the stage for additional sales growth in the coming quarters.
Beyond obesity, Novo Nordisk is strengthening its diabetes portfolio with oral semaglutide. In May, the FDA approved oral Ozempic for adults with T2D and to reduce cardiovascular risk. The drug was subsequently launched in the United States, likely contributing to second-quarter sales, which the investors will be keen to learn. The company also continues to generate meaningful revenues from Rybelsus, its oral semaglutide therapy for T2D
However, Novo Nordisk’s weak 2026 outlook, expecting a decline in adjusted sales and operating profit, signals limited near-term momentum for its GLP-1 franchise, suggesting that second-quarter sales growth for Wegovy and Ozempic is likely to remain under pressure amid intensifying competition from arch-rival Eli Lilly LLY. Pricing pressure in the United States, weaker prescription trends for injectable GLP-1 drugs, reduced Medicaid obesity coverage and intensifying competition continue to create significant operational and executional hurdles.
Beyond its GLP-1 franchise, Novo Nordisk’s insulin and Rare Disease portfolios are likely to have provided additional support to overall revenues during the period
NVO’s Peers in the Obesity Space
Eli Lilly is Novo Nordisk’s fierce competitor in the diabetes/obesity space, which markets its tirzepatide injections, Mounjaro (T2D) and Zepbound (obesity), competing directly with NVO’s Ozempic and Wegovy injections, respectively. Mounjaro and Zepbound have become LLY’s key top-line drivers. In the first quarter of 2026, the two drugs generated a combined $12.82 billion in sales, accounting for approximately 65% of Eli Lilly’s total revenues
