Novo Nordisk’s newly approved oral version of Wegovy achieved more than 18,000 U.S. prescriptions in its first week and surpassed 26,000 in the second full week, according to IQVIA data. This uptake underscores robust patient and prescriber enthusiasm for a convenient, pill-based GLP-1 therapy. Early market indicators suggest the oral formulation could contribute an incremental $1.2 billion in annual sales by 2027, bolstering the company’s growth after a 41% stock decline in 2025 and helping explain the 26% rebound in early 2026.

Between January and September 2025, Novo Nordisk invested approximately $316 million promoting Wegovy and $169 million on Ozempic in the U.S., representing increases of 54% and 44% versus the prior year. The combined $487 million ad spend more than doubled Eli Lilly’s $214 million outlay on Zepbound and Mounjaro. As supply constraints eased, Novo Nordisk resumed its media push—including direct-to-consumer channels—to capitalize on uninsured patients paying cash, positioning the company to defend share in a market where competitors have captured roughly 60% of obesity prescriptions.

Novo Nordisk faces a class action alleging an unlawful scheme to delay generic entry of its diabetes drug Victoza, which generated over $5 billion in U.S. sales in 2018. Plaintiffs claim a reverse-payment deal with Teva postponed generic Victoza launch until June 2024—16 months beyond patent expiry—shifting patients to Ozempic and preserving supracompetitive pricing. If successful, the action could expose Novo Nordisk to hundreds of millions in damages and heighten regulatory scrutiny of its commercial practices.

Despite rallying early this year, Novo Nordisk’s forward P/E ratio of 17 remains well below peers trading above 50, reflecting conservative growth assumptions. Analysts note consensus revenue forecasts may understate the impact of oral Wegovy’s rapid adoption and the company’s double-digit historical top-line expansion. While some caution that a PEG of 3.3 exceeds the sector median, the combination of new product drivers and a strong cash position suggests further upside potential for long-term investors.