NVO vs. GPCR: Which Obesity Stock Is the Better Buy Right Now?
Ahan Chakraborty
Wed, August 26, 2026 at 5:49 PM GMT+5:30
7 min read
Novo NordiskNVO and Structure TherapeuticsGPCR have emerged as notable companies in the obesity and metabolic disease space, both focused on the growing opportunity in GLP-1 therapies
Novo Nordisk is a global leader in the category, marketing semaglutide-based medicines under the brand names Ozempic (injection and oral pill) and Rybelsus (oral tablet) for type II diabetes (T2D), and Wegovy (injection and oral pill) for chronic weight management
On the other hand, Structure Therapeutics is a clinical-stage biopharmaceutical company developing oral small-molecule therapies for metabolic diseases, with its pipeline centered on GLP-1 receptor agonists
While Novo Nordisk and Structure Therapeutics differ significantly in scale, commercial maturity and risk profile, the comparison is becoming increasingly relevant as competition in the obesity market intensifies. Novo Nordisk is already commercializing GLP-1 therapies at global scale, while Structure Therapeutics is pursuing a potential future entrant. Over the long run, however, both companies are targeting the same broad and rapidly expanding GLP-1 opportunity, making this an interesting matchup between an established market leader and an emerging challenger.
The Case for NVO Stock
Novo Nordisk has seen explosive success with its GLP-1 medicines, Wegovy for obesity and Ozempic and Rybelsus for T2D
At the same time, semaglutide-based medicines continue to demonstrate benefits beyond blood sugar control and weight loss, including reducing cardiovascular (CV) risk and improving kidney disease outcomes. These additional indications could significantly expand the addressable market for Novo Nordisk’s therapies over time
In late December, the FDA approved NVO’s 25 mg oral semaglutide (Wegovy pill) for obesity and CV disease, which was subsequently launched in early January. Since launch, the pill has surpassed five million prescriptions, suggesting solid traction. The Wegovy pill is also approved in the EU, which should further boost sales in the upcoming quarters
In the first half of 2026, total reported Obesity care sales increased 20% year over year in DKK, or 24% at constant exchange rates, driven by higher sales across the Wegovy portfolio, including incremental sales from the newly launched Wegovy pill
Beyond its existing products, Novo Nordisk continues to invest heavily in next-generation obesity and metabolic disease therapies. The most advanced candidate in Novo Nordisk’s pipeline is CagriSema injection, a fixed-dose combination of a long-acting amylin analog, cagrilintide and semaglutide. The company filed a new drug application with the FDA in December 2025 for CagriSema to treat obesity. A decision is expected in the fourth quarter. Another key candidate for T2D and obesity is zenagamtide (formerly known as amycretin), a novel long-acting GLP-1 and amylin receptor agonist, in phase III.
