Novo Nordisk Shares Surge on Strong Launch of Weight-Loss Pill

Novo Nordisk is undergoing a significant market revaluation, driven by the initial sales performance of its newly launched oral weight-loss medication. The pharmaceutical giant's stock has been energized by early data from the United States, where the tablet version of Wegovy became available in early January 2026, with figures substantially surpassing analyst forecasts.

The oral formulation of Wegovy demonstrated immediate traction following its U.S. debut on January 5, 2026. Pharmacy records show that 3,071 prescriptions were filled in just the first four days. This figure represents only standard retail pharmacy transactions and excludes prescriptions processed through the company’s dedicated NovoCare program, suggesting the underlying patient demand is even more robust.

A key factor in this rapid adoption is the company's competitive pricing strategy. The monthly cost for self-paying patients has been set at $149. Financial experts at UBS have indicated that the pill could see a more successful launch than the injectable version did historically. They project that crossing the threshold of 400,000 prescriptions in the first quarter would mark a significant milestone. Analysts from Berenberg estimate the tablet could generate approximately $1 billion in revenue during 2026.

Technical Chart Levels and Stock Performance

Despite a powerful monthly gain exceeding 45%, the stock has recently entered a consolidation phase. On the Copenhagen exchange, Novo Nordisk B shares closed at 377.55 Danish kroner yesterday, reflecting a daily decline of nearly 3%. The U.S.-listed American Depositary Receipts (ADRs) are trading at $62.33, maintaining a position well above key moving averages of $50.62 (50-day) and $59.01 (200-day).

Market technicians are now monitoring two critical resistance levels. A break above $69 would close a price gap from July 2025, while the next target sits at the June peak of $74. The stock's ability to challenge these levels is seen as largely dependent on whether the strong initial momentum in tablet sales can be sustained.

Should investors sell immediately? Or is it worth buying Novo Nordisk?

Financial Outlook and European Expansion

Several key financial metrics and developments are shaping the investment thesis:

• Quarterly Dividend: A rise to $1.73 per share is anticipated for 2026, representing a 19% increase from the August payout.
• Fair Value Assessment: Market researchers place the fair value of the Copenhagen-listed shares around 392 DKK, slightly above the current trading price.
• Earnings Schedule: The company is scheduled to release its Q4 and full-year 2026 results on February 4, 2026, before the market opens.

Concurrent with its U.S. success, Novo Nordisk is strengthening its European position. Regulatory authorities in the United Kingdom recently approved a higher 7.2 mg dosage of the injectable Wegovy, which is intended to enable greater weight reduction. This approval provides additional support for the firm's growth strategy.

However, the company also faces headwinds. A lawsuit filed by Strive Compounding Pharmacy alleges that Novo Nordisk and Eli Lilly are misusing their market dominance to block telemedicine providers from accessing compounded versions of GLP-1 drugs. The outcome remains uncertain, but the case highlights the intensifying competitive landscape.

Analyst Sentiment and Valuation Questions

Current analyst ratings present a mixed picture. Of 13 covering analysts, six recommend "Buy," five advise "Hold," and two suggest "Sell." The average price target for the U.S.-listed ADRs stands at $55.90, which is below the current market price. This discrepancy leads some observers to view the rally of recent weeks as potentially premature. The upcoming quarterly report in early February will be crucial in determining whether a projected year-over-year revenue growth of 38% can justify the present valuation.