Oral Wegovy China Filing
China accepts Novo Nordisk oral Wegovy filing amid surging weight loss demand.
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Key Points
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Novo Nordisk’s stock was trading near its consensus analyst target, with about 25 analysts rating it a 'hold' and an average target near DKK310.82; some targets go as low as DKK275, while management guided 2026 adjusted sales and operating profit to fall 0%–6% at constant exchange rates.
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China’s GLP-1 competition extends beyond Novo Nordisk and Eli Lilly to include Pfizer and Innovent Biologics, highlighting a broader local and international fight for share in the country’s growing oral-weight management space.
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Eli Lilly has already secured U.S. approval for its oral orforglipron (as of April) and filed a China marketing application for the same drug by end-2025; Novo Nordisk, meanwhile, has already obtained early approvals in the U.S. and Britain for Wegovy’s oral version.
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The Wegovy oral filing in China represents a regulatory milestone that comes amid a fast-expanding, obesity-driven GLP-1 market, signaling intensified efforts by global players to accelerate the availability of daily oral options in a key growth region.
China's drug regulator has accepted Novo Nordisk's application to sell oral Wegovy, marking a major step for the Danish drugmaker in one of the world's fastest-growing weight-loss markets. Investing reported the move comes as Novo races against Eli Lilly and others to capture China's expanding GLP-1 pill market, which could reach 30 billion yuan in five to seven years.
The acceptance signals intensifying competition for daily oral options in China, where obesity rates are projected to hit 65% of the population by 2030. Analysts see this filing as a crucial regulatory catalyst for Novo Nordisk as it builds its oral footprint globally and aims to complement its injection-based treatments.
Novo Nordisk Races Into China's Booming Weight-Loss Market
Novo Nordisk has already secured early approvals in the U.S. and Britain for oral Wegovy. Now China's approval acceptance opens a third major market for the pill form. MarketScreener noted the move puts Novo on track to compete directly with Eli Lilly, which filed its own China application for oral orforglipron by the end of 2025.
The oral format is key. Many patients prefer taking pills over injections, making daily tablets an attractive option as obesity treatment demand surges. By offering Wegovy as both an injection and a pill, Novo Nordisk can reach a wider patient base in China's rapidly expanding treatment landscape.
Eli Lilly and Pfizer Intensify the Battle for Chinese Patients
Novo Nordisk faces fierce competition in China. Eli Lilly secured U.S. approval for oral orforglipron in April and plans to file for China approval by end-2025. Pfizer and local firm Innovent Biologics are also competing in the oral weight-management space, creating a crowded field.
The competition reflects the size of the opportunity. China's GLP-1 weight-management market could balloon from a few billion yuan today to around 30 billion yuan within five to seven years. Global drugmakers want a slice of that growth, making China a battleground for market leadership.
Novo Nordisk Stock Faces Headwinds Despite Regulatory Win
Despite the China filing boost, Novo Nordisk's stock trades near analyst targets. About 25 analysts rate the stock a 'hold,' with an average price target of DKK310.82. Some targets run as low as DKK275, signaling cautious sentiment among Wall Street watchers.
Management guided 2026 adjusted sales and operating profit to fall between 0% and 6% at constant exchange rates. This modest or flat outlook shows challenges ahead, even as the company pursues growth in GLP-1 markets like China. Investors are watching to see if oral Wegovy can offset other headwinds.
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