Novo Nordisk’s newly approved oral formulation of Wegovy recorded over 18,000 U.S. prescriptions in its first week and exceeded 26,000 prescriptions in its second full week, based on IQVIA data. This rapid uptake underscores robust patient demand and prescriber confidence in the convenience of a pill-based GLP-1 therapy. Analysts project the oral launch could add up to $2 billion in annual revenue by 2027, providing a significant growth driver as the company leverages its first-mover advantage in obesity treatment.

In the first nine months of 2025, Novo Nordisk escalated U.S. advertising spend on its flagship GLP-1 drugs, investing approximately $316 million in Wegovy and $169 million in Ozempic—a combined $487 million outlay, more than double the $214 million spent by its nearest rival on comparable obesity and diabetes treatments. This renewed marketing push followed supply constraints in 2024 and aligns with the company’s strategy to support direct-to-consumer channels where insurance coverage remains uneven. Despite higher spend, competitor clinical data shows rival users achieved 47% greater weight loss, and that rival secured roughly 60% of the U.S. obesity drug market last year.

After a 41% decline during 2025, the stock rebounded with a 26% surge in early 2026. At a price-to-earnings ratio of 17, Novo Nordisk trades at a significant discount to peer valuations exceeding 50, suggesting potential undervaluation given the company’s double-digit historical revenue growth and seasonal Q4 strength. However, a high PEG ratio of 3.3 versus the sector median of 1.8 and the possibility of profit-taking ahead of upcoming quarterly results warrant a cautious stance, leading some analysts to rate the shares as a Hold despite upside from the weight-loss franchise expansion.