NOVO NORDISK A S (NVO) Company Report

Analyst Coverage

Research analysts who have asked questions during NOVO NORDISK A S earnings calls.

Peter Verdult

Citigroup Inc.

7 questions for NVO

Also covers: AZN, EVO, GMAB +4 more

James Quigley

Goldman Sachs

6 questions for NVO

Also covers: EVO, NVS, SNY +1 more

Sachin Jain

Bank of America

6 questions for NVO

Also covers: AZN, GMAB, GSK +2 more

Michael Nedelcovych

TD Cowen

5 questions for NVO

Also covers: BHC, CHRS, MOLN +4 more

Richard Vosser

JPMorgan Chase & Co.

5 questions for NVO

Also covers: ARGX, AZN, MOLN +2 more

Harry Sephton

UBS

4 questions for NVO

Also covers: NVS

Martin Parkhoi

SEB

4 questions for NVO

Also covers: GNNDY

Emmanuel Papadakis

Deutsche Bank

3 questions for NVO

Also covers: AZN, NVS, SNY

Jo Walton

UBS

3 questions for NVO

Also covers: AZN, GSK, NVS +1 more

Simon Baker

Redburn Atlantic

3 questions for NVO

Also covers: AUTL, AZN, BNTX +5 more

Callum Morris

Berenberg

2 questions for NVO

Carsten Lomberg Madsen

Danske Bank

2 questions for NVO

Evan Seigerman

BMO Capital Markets

2 questions for NVO

Also covers: ABBV, AMGN, ARVN +15 more

Florent Cespedes

Bernstein

2 questions for NVO

Also covers: NVS, SNY

Michael Leuchten

Jefferies

2 questions for NVO

Also covers: AZN, GSK, NVS +1 more

Richard Foster

JPMorgan Chase & Co.

2 questions for NVO

Also covers: NVS

Thibault Boutherin

Morgan Stanley

2 questions for NVO

Also covers: ALVO, EVO, GRFS +2 more

Yihan Li

Barclays

2 questions for NVO

Also covers: NBTX

Emily Field

Barclays

1 question for NVO

Also covers: AZN, GMAB, GSK +2 more

James Creedy

Goldman Sachs Group Inc.

1 question for NVO

Laura Hindley

Berenberg Bank

1 question for NVO

Michael Novod

Nordea

1 question for NVO

Also covers: ZLDPF

Peter Welford

Jefferies

1 question for NVO

Also covers: AZN, GSK, NVS +1 more

Rajesh Kumar

HSBC

1 question for NVO

Also covers: AZN, BZLFY, LLY +2 more

Richard Parkes

BNP Paribas Exane

1 question for NVO

Also covers: AZN, GSK, NVS

Latest news

Recent press releases and 8-K filings for NVO.

Novo Nordisk Intensifies Hunt for Obesity Deals

NVO

M&A

Product Launch

New Projects/Investments

Novo Nordisk is intensifying its search for obesity-focused acquisitions, with CEO Mike Doustdar indicating a willingness for significant deals that clearly outperform current assets, following a loss in a bidding war for Metsera.
This aggressive M&A strategy is a response to rising competition, impending semaglutide patent expirations, and U.S. price cuts that are expected to pressure near-term revenues.
The company's share price has increased by approximately 18% this year, partly attributed to strong early demand for its recently launched oral version of Wegovy in the U.S..
Despite the positive share price movement, management views 2025 as a challenging year, emphasizing the need for volume growth to offset pricing headwinds.

1 day ago

Bloomberg

Novo Nordisk Outlines Refocused Strategy and Pipeline Developments

NVO

Product Launch

New Projects/Investments

M&A

Novo Nordisk is refocusing its strategy on diabetes and obesity, returning to its core "DNA" and narrowing its focus on adjacencies to those directly impacting these patient groups.
The company targets a large unmet need of 2 billion individuals with diabetes or obesity, but anticipates lower growth rates and reduced prices impacting 2026 following a difficult 2025.
Key product developments include the launch of a higher dose of Wegovy (7.2), the Rybelsus pill (Wegovy label) achieving 16.6% weight loss with strong tolerability, and the anticipated approval of CagriSema (semaglutide and amylin combo) offering 23% weight loss.
Novo Nordisk is increasing business development activities to acquire complementary assets, exemplified by the Acuro acquisition for MASH, and possesses the financial capacity for significant M&A.

1 day ago

Transcript

Novo Nordisk Outlines Refocused Strategy and 2026 Priorities at J.P. Morgan Healthcare Conference

NVO

Product Launch

New Projects/Investments

M&A

Novo Nordisk is refocusing its strategy on diabetes and obesity, narrowing its approach to adjacencies that directly impact these patient populations.
For 2026, the company's short-term priorities include accelerating commercial execution by launching a higher dose of Wegovy (7.2 mg) and enhancing direct-to-patient and cash channels.
The company has launched the Wegovy pill (Rybelsus), which achieves 16.6% weight loss and exhibits better tolerability compared to competitor offerings.
Key late-stage pipeline assets include CagriSema, a combination therapy with 23% weight loss and good tolerability, expected for approval late 2026, and Cagrilintide monotherapy in Phase 3.
Novo Nordisk is increasing business development efforts, as demonstrated by the acquisition of Acuro to complement its portfolio in addressing advanced fatty liver disease (MASH) in obese patients.

1 day ago

Transcript

Novo Nordisk CEO Discusses Strategy Refocus, 2025 Performance, and Pipeline Updates

NVO

Product Launch

New Projects/Investments

Guidance Update

Novo Nordisk is refocusing its strategy on diabetes and obesity, narrowing its approach to adjacencies to only those impacting patients with high blood sugar or obesity.
Following a difficult 2025, the company anticipates headwinds in international operations in 2026 due to lost exclusivity and increased competition, necessitating financial discipline.
To accelerate commercial execution and expand the market, Novo Nordisk plans to launch a higher dose of Wegovy (7.2), enhance direct-to-patient channels, and expand product availability through partnerships and the Rybelsus pill to cater to patients preferring oral medication.
The R&D pipeline includes the anticipated approval of CagriSema (semaglutide and amylin fixed combo) late in 2026, and amycretin in later stages, with ongoing development of higher dosages and new indications for existing assets.

1 day ago

Transcript

Novo Nordisk Launches Oral Wegovy

NVO

Product Launch

Novo Nordisk launched the FDA-approved Wegovy pill in January 2026, introducing an oral administration option for chronic weight management alongside the established Wegovy shot.
Both the Wegovy pill and shot contain the same active ingredient, semaglutide, and are FDA-approved branded medications, with the primary distinction being the administration method: daily oral dosing for the pill versus once-weekly injection for the shot.
Telehealth platform Ro.co integrated with Novo Nordisk to provide access to brand-name Wegovy, stating its access pathway is priced as the lowest cash-pay option available through its platform as of January 5, 2026.

2 days ago

Press Release

Novo Nordisk's Oral Wegovy Launches with Ro Partnership for Cash-Pay Access

NVO

Product Launch

New Projects/Investments

The nationwide launch of oral Wegovy in January 2026 introduces an FDA-approved pill-form GLP-1 medication for weight management, addressing injection aversion.
Ro, a direct-to-patient healthcare company, has integrated directly with Novo Nordisk to offer oral Wegovy, aiming to provide the "lowest available cash pay price" for patients.
The starting dose pricing for cash-pay patients is approximately $149 per month.
Ro's platform focuses on cash-pay access and does not accept Medicare, Medicaid, or VA coverage for GLP-1 medications.

2 days ago

Press Release

Novo Nordisk's Oral Wegovy Launched on Amazon Pharmacy

NVO

Product Launch

Revenue Acceleration/Inflection

Amazon Pharmacy has begun selling Novo Nordisk’s newly FDA-approved oral Wegovy weight-loss pill, offering a one-month supply for insured customers as low as $25 and a cash-pay option starting at $149.
This launch expands Wegovy’s retail footprint with nationwide delivery and same-day service, representing a strategic move by Novo Nordisk to broaden access and address market competition.
The introduction of the oral Wegovy follows its December FDA approval and aims to counter Novo Nordisk's slowing revenue growth in 2025 and Eli Lilly's significant market share in the GLP-1 market.
Novo Nordisk's stock jumped nearly 5% on the news, reflecting positive investor interest.

5 days ago

WSJ

G-Protein Coupled Receptors (GPCRs) Market Projected to Reach $6.04 Billion by 2032

NVO

New Projects/Investments

The global G-protein coupled receptors (GPCRs) market was valued at USD 3.92 billion in 2024 and is projected to reach USD 6.04 billion by 2032, growing at a CAGR of 5.59% from 2025 to 2032.
The U.S. GPCRs market is expected to grow from USD 1.11 billion in 2024 to USD 1.66 billion by 2032, expanding at a CAGR of 5.21% during the forecast period.
North America dominated the GPCRs market in 2024, holding a 37.10% share, primarily due to its developed pharmaceutical and biotechnology industries and high R&D investment.
Novo Nordisk formed a USD 2.2 billion strategic partnership with Septerna in May 2025 to develop oral small-molecule medicines for obesity and associated cardiometabolic disorders, focusing on G protein-coupled receptors (GPCRs).
The market's expansion is driven by GPCRs' central role as drug targets across multiple therapeutic areas, advancements in structure-based drug design and high-throughput screening, and increasing investments in precision medicine.

Jan 5, 2026, 3:00 PM

Press Release

Novo Nordisk's Wegovy® Pill Gains Access via Weight Watchers' GLP-1 Platform

NVO

Product Launch

New Projects/Investments

Novo Nordisk's newly FDA-approved oral formulation of Wegovy® will be accessible through WW International's integrated GLP-1 platform, expanding treatment options for weight health.
This collaboration makes the Wegovy® pill available to Weight Watchers Med+ members, with access starting at $149 per month.
Weight Watchers, a NovoCare® Recognized Care Provider, will pair access to the oral GLP-1 medication with its evidence-based behavioral support programs, which have shown to improve weight loss outcomes, including 61.3% more body weight lost at one month and 29.1% more weight lost at twelve months for engaged Med+ members compared to those without behavioral support.

Jan 5, 2026, 1:05 PM

Press Release

Novo Nordisk's Wegovy® Pill Now Broadly Available in the US

NVO

Product Launch

New Projects/Investments

Novo Nordisk's Wegovy® pill, the first and only oral GLP-1 for weight loss, is now broadly available in the US following its approval on December 22, 2025.
The pill demonstrated an average weight loss of approximately 17% if all patients stayed on treatment, and about 14% regardless of treatment adherence, based on the OASIS 4 trial.
The starting dose of Wegovy® pill (1.5 mg) is available for $149 per month for self-pay patients, with other doses ranging up to $299 per month.
It is accessible through over 70,000 US pharmacies, including CVS and Costco, as well as select telehealth providers.