Novo Nordisk's Q2 performance to be driven by Ozempic and Wegovy sales growth, despite competition in obesity space.

Novo Nordisk's Q2 performance is expected to be driven by sales of Ozempic and Wegovy, which together accounted for 66% of the company's total revenues in Q1 2025. Wegovy sales surged 83% YoY, while Ozempic sales increased 15%. The company is addressing supply constraints and pushing for further label expansions. Eli Lilly's Mounjaro and Zepbound are fierce competitors in the obesity space, generating $6.15 billion in combined sales in Q1 2025.

Novo Nordisk's Q2 performance is expected to be driven by the strong sales of its GLP-1 receptor agonists, Ozempic and Wegovy. These two drugs accounted for approximately 66% of the company's total revenues in the first quarter of 2025. Ozempic, used for type II diabetes (T2D), saw a 15% year-over-year increase in sales, while Wegovy, used for obesity, experienced an 83% surge. The company is addressing supply constraints by ramping up manufacturing capacity and pushing for further label expansions, such as Ozempic for peripheral artery disease and a higher-dose injectable version of Wegovy.

Eli Lilly, a fierce competitor in the obesity space, generated $6.15 billion in combined sales of its tirzepatide medicines, Mounjaro for T2D and Zepbound for obesity, in the first quarter of 2025. Lilly's dominance in the GLP-1 therapy market is attributed to the superior efficacy of its dual-acting tirzepatide, which achieves 27% weight loss in severe obesity, compared to Novo's semaglutide, which achieves 15–21% weight loss. Lilly's aggressive pricing strategies and supply chain agility have enabled it to capitalize on Novo's recent struggles with Wegovy shortages and regulatory delays.

Novo Nordisk is also boosting Wegovy access through programs like the NovoCare Pharmacy and exclusive formulary coverage with CVS Caremark, alongside international expansion. The company is expected to report its second-quarter results on August 6, with investors eager to know the sales numbers of Ozempic and Wegovy.

References:

[1] https://finance.yahoo.com/news/wegovy-ozempic-drive-another-strong-133900261.html
[2] https://www.biospectrumasia.com/company-results/83/25639/novo-nordisk-delivers-strong-2024-results-with-26-revenue-growth-fueled-by-glp-1-success-and-obesity-market-expansion.html
[3] https://www.ainvest.com/news/eli-lilly-dominating-glp-1-therapies-fueling-future-growth-2507/