Novo Nordisk will introduce an oral formulation of semaglutide under the Ozempic pill brand in the second quarter of this year. Initial offerings will include three dosage strengths designed for once-daily administration. The company has secured regulatory approvals in major markets and is ramping up manufacturing capacity to support expected demand from both existing injectable users and new patients seeking noninvasive treatment options.

In the fourth quarter of 2025, Novo Nordisk reported a 10% increase in revenue at constant exchange rates to reach DKK 309.1 billion for the full year, driven by a 31% uptake in its obesity franchise. Despite this top-line growth, net profit remained flat year-on-year as gross margin contracted by 200 basis points and operating expenses rose by DKK 4 billion due to expanded commercial investment and production scale-up for oral and injectable GLP-1 therapies.

Management’s guidance for 2026 projects a 5–13% decline in both net sales and operating profit at constant exchange rates. The forecast reflects significant pricing pressure in the U.S. market arising from new government drug-pricing frameworks, patent expirations on key semaglutide formulations in several territories, and intensifying competition from rival GLP-1 products. Currency headwinds are also expected to subtract roughly 2 percentage points from revenue growth.

Novo Nordisk has initiated the first tranche of its 2026 share repurchase authorization, committing up to DKK 3.8 billion of a total DKK 15 billion programme between February and May. The buyback will target a maximum of 400 million B shares to reduce share capital and cover obligations under employee incentive plans. Execution will follow EU market-abuse regulations and is managed by Nordea Danmark as lead manager.