Novo Nordisk Shares Surge on Promising Results from Oral Wegovy Trial

Novo Nordisk announced on Wednesday that its phase 3 Oasis 4 trial for a once-daily oral semaglutide pill demonstrated significant weight reductions, matching the tolerability profile of its successful Wegovy injectable. The Danish pharmaceutical company reported that participants with obesity or overweight and at least one weight-related comorbidity achieved an average 16.6% reduction in body weight after 64 weeks. Following the news, shares climbed 5.4% by 10:23 a.m. London time (5:23 a.m. ET).

Chief Science Officer Martin Holst Lange emphasized that the Oasis 4 results confirm the oral formulation’s efficacy and safety are on par with the weekly injection. He explained that providing patients with a choice between a tablet and an injection could materially improve treatment access and adherence. Wegovy, already approved, produced an average 15% weight loss in a prior study under similar patient criteria.

The oral semaglutide pill remains under review by the U.S. Food and Drug Administration, following its February New Drug Application submission. A regulatory decision is expected in the fourth quarter of this year. Novo Nordisk has committed to U.S.-based manufacturing if approval is granted, aligning with broader industry trends toward strengthening domestic production.

Competition in the obesity pill market is intensifying, as no oral GLP-1 treatments have yet reached the market. Analysts have indicated that Eli Lilly’s oral candidate, Orforglipron, may receive expedited FDA approval via the Commissioner’s National Priority Review Voucher program. Lange welcomed the competitive landscape but maintained that patient outcomes would guide Novo Nordisk’s strategic focus. He noted that while Orforglipron achieved an average 12.4% weight loss in its phase 3 ATTAIN-1 trial, direct cross-trial comparisons are challenging, particularly given differences in discontinuation rates that may reflect tolerability advantages for semaglutide.

Both companies are also advancing next-generation compounds. Novo Nordisk recently highlighted positive early data for its long-acting amylin analogue, cagrilintide. These developments coincide with a broader corporate restructuring under new CEO Mike Doustdar, which will include cutting approximately 9,000 roles to sharpen focus on diabetes, obesity, and related comorbidities. “Our strategy remains centered on continuous investment in our core diabetes and obesity franchises,” Lange stated.