Novo Nordisk says the Wegovy pill, not the injection, is driving semaglutide growth
The oral form of Wegovy is now carrying growth while semaglutide injections stall, a shift that may shape supply and coverage decisions, though the report gives no pricing or access detail.
Novo Nordisk's second-quarter report shows growth in its semaglutide business is coming mostly from the pill form of Wegovy rather than the injected version. Ozempic sales rose 3% to DKK 31.375 billion, Wegovy injection sales rose 1% to DKK 19.484 billion, and the Wegovy pill contributed DKK 3.218 billion in its second full quarter [2].
The company reported the results on August 4, 2026, the same day it raised its full-year outlook [2]. Group adjusted sales came to DKK 78,488 million, up 7% at constant exchange rates, and adjusted operating profit was DKK 33,389 million, up 11% [2]. Constant exchange rates remove currency swings, so those figures reflect the underlying business rather than the effect of a stronger or weaker krone.
Those adjusted numbers exclude two items the company flagged: a non-recurring effect from provision reversals tied to the US 340B Drug Pricing Program, and DKK 6.3 billion in non-cash impairment charges on pipeline assets, including DKK 4.0 billion related to monlunabant [2]. Because of those adjustments, the growth rates Novo Nordisk highlights differ from its reported, unadjusted results. The company said the midpoint of its unadjusted 2026 guidance would be 5% sales growth and 12% operating profit growth at constant exchange rates [2]. One market report described the quarter as showing sales falling on a tough comparison, with the stock dropping [1].
For the full year, Novo Nordisk now expects adjusted sales growth of 0% to -6% at constant exchange rates, and the same range for adjusted operating profit. That is an improvement from the -4% to -12% ranges the company gave on May 6, 2026 [2]. Novo Nordisk attributed the better outlook to increased expectations for GLP-1 product sales [2]. It did not publish a separate outlook for the Wegovy pill or for Ozempic.
Why it matters for patients
The quarter's brand-level detail is where the practical news sits. Ozempic and Wegovy are both semaglutide; Ozempic is sold for type 2 diabetes and Wegovy for weight management. Ozempic remains the largest single product at DKK 31.375 billion, but its 3% growth and the Wegovy injection's 1% growth contrast with a pill that added DKK 3.218 billion in only its second full quarter [2]. The oral form is now a real part of the franchise rather than a rounding error.
The report does not include US list prices, insurance coverage rules or supply information, so whether the shift toward an oral option changes what patients pay or how quickly prescriptions are filled has not been disclosed. The DKK 6.3 billion impairment charge relates to experimental pipeline assets, not to approved medicines such as Ozempic or Wegovy [2].
What happens next
Novo Nordisk scheduled an investor conference call for August 5, 2026 at 13:00 CEST, which is 7:00 a.m. EDT [2]. The company said its full disclosure of financial results for the first six months of 2026 would be published August 4, 2026 [2]. A date for third-quarter results has not been reported.
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