Novo Nordisk’s Wegovy tablet has become the fastest-selling obesity drug in US history, with over three million prescriptions in five months, signaling a major shift in the GLP-1 market. For overseas distributors and clinic buyers, this oral formulation’s logistical advantages—no refrigeration required—and expanding international rollout present new sourcing opportunities, even as the company faces revenue decline and price cuts from 2027.
Market signal
The Wegovy tablet (oral semaglutide) generated approximately $355 million in first-quarter sales for the 25 mg formulation alone, with a new prescription written every five seconds at its peak in the US. Over 80% of users are new to GLP-1 therapy, indicating market expansion beyond existing injectable patients. The product has launched in the United Arab Emirates as the first international market, with further country launches scheduled for the second half of 2026, pending European Medicines Agency approval.
Competitive pressure
Eli Lilly’s Mounjaro overtook Novo Nordisk’s injectable GLP-1 sales in Q2 2025, and one major US pharmacy benefit manager now favors a rival obesity treatment. Cheaper compounded variants are also eroding market share. Novo Nordisk countered with clinical data showing Wegovy tablet patients lost an average of 16.6% of body weight, outperforming Lilly’s experimental oral candidate (12.4%). The company submitted a registration application for CagriSema to the FDA in December 2025, with a decision expected in Q4 2026 and potential launch at end of 2027.
Regulatory and channel signals
Health Canada approved a reformulated version of Rybelsus for Type 2 diabetes, with smaller tablet sizes (1.5 mg, 4 mg, 9 mg) replacing previous doses. A new excipient blend improves semaglutide absorption without altering clinical efficacy, based on a bioequivalence study of 546 volunteers. Rybelsus remains the only licensed GLP-1 tablet for Type 2 diabetes in Canada, and its approval now covers cardiovascular risk reduction.
Sourcing context
Novo Nordisk plans rare US list-price reductions for core semaglutide products from January 2027, signaling that pricing pressure is now embedded in company forecasts. The stock trades at approximately EUR 37.72, 46% below its 52-week high, with year-to-date decline of about 16%. The company has repurchased nearly 18.8 million B-shares since February 4, 2026, at an average price of DKK 264.32, under a DKK 15 billion buyback program.
What buyers should watch
For overseas importers and distributors, the Wegovy tablet’s lack of refrigeration requirement is a key logistical advantage for hot-climate markets. The international rollout schedule—UAE first, then additional markets pending EMA approval—creates entry points for early distribution partnerships. However, the planned 2027 price cuts and intensifying competition from Eli Lilly and compounded alternatives suggest margin pressure ahead. Buyers should monitor regulatory decisions on CagriSema and the reformulated Rybelsus for potential new product lines.
Source: Read the original report | Published: June 11, 2026