Novo Nordisk A/S has revealed that as the global competition for weight-loss drugs intensifies, the company is preparing to fully promote the launch of its oral weight-loss drug Wegovy in markets outside the United States.

Emil Korsholm Larsen, Executive Vice President of International Business at Novo Nordisk, stated in an interview, "Once officially launched, we will go all out. This is a tremendous growth opportunity."

Following the strong sales and positive market reception of this oral weight-loss drug in the U.S., Novo Nordisk announced last week that, pending regulatory approval, it plans to initiate its launch in regions outside the U.S. later this year.

Currently, over half of the sales for Novo Nordisk and its main competitor, Eli Lilly, come from the U.S. market. However, in recent years, weight-loss drugs have fundamentally reshaped the pharmaceutical industry landscape, and both companies are increasingly focused on expanding their market presence globally.

Larsen did not specify the initial countries for the international launch of the oral Wegovy but indicated that the company would prioritize markets based on their potential, taking into account factors such as the prevalence of obesity, the expertise of healthcare professionals, and the availability of telemedicine resources.

Larsen noted that telemedicine is an effective way to broaden access to the drug. Using Germany as an example, he explained, "The related business there was previously slow to develop. With the rise of telemedicine, patients can now easily access treatment services, and this approach has gained widespread acceptance."

Novo Nordisk and Eli Lilly Enter a New Phase of Competition

While Eli Lilly raised its performance forecast, with a median sales growth expectation of 28% for this year, Novo Nordisk anticipates a significant decline in its own performance.

Despite a slight upward revision to its profit guidance last week, Novo Nordisk still expects revenue and profit to decline by 4% to 12% in 2026, citing price reductions in the U.S. market and competition from generic drugs in markets like India, Canada, and Brazil.

In January of this year, Novo Nordisk took the lead by launching the oral Wegovy weight-loss drug in the U.S., gaining a first-mover advantage in the oral weight-loss drug segment. Even with price adjustments, the drug's sales in the first quarter far exceeded expectations, with total prescriptions surpassing 2 million as of last week.

Discussing the U.S. launch, Larsen said, "With the widespread use of social media and the ease of information dissemination, public opinion has extensive reach. We have achieved an almost perfect pre-launch buildup. Additionally, this oral drug has benefited our injectable products, collectively boosting the popularity of the Wegovy brand."

Analysts at Nordea mentioned in a research report that, based on Google Trends data and prescription trends, Wegovy has become a mainstream weight-loss product widely recognized in U.S. households.

Meanwhile, Eli Lilly stated on April 30 that since its launch earlier this month, over 20,000 people have started taking its oral weight-loss drug, Foundayo.

Weekly prescription data from market research firm IQVIA for the U.S. shows that Foundayo's prescription volume during the same period was far lower than that of the oral Wegovy. While IQVIA's data does not capture all prescription orders, it clearly reflects the disparity in market demand between the two drugs.

In an interview last month, Eli Lilly CEO David Ricks acknowledged that it will take time for Foundayo to establish its brand in the market. The active ingredient in this drug differs from those in Eli Lilly's blockbuster injectable weight-loss drugs, Mounjaro and Zepbound, whereas Novo Nordisk's oral Wegovy is essentially an oral derivative of its injectable counterpart.

He stated, "Our market promotion strategy will be different. This is a new brand and a new drug molecule. Market development is a gradual process that unfolds quarter by quarter, not something that can be achieved in just a few days. We hope the market will be patient as we steadily advance our plans."

Barclays analyst Emily Field noted last week that the oral Wegovy and Foundayo target different audience segments. The former's efficacy is comparable to injectable weight-loss drugs, while the latter is more aligned with entry-level glucagon-like peptide-1 weight-loss medications.

Executives from both Eli Lilly and Novo Nordisk agree that the introduction of oral weight-loss drugs is expanding the overall weight-loss drug market rather than merely dividing the existing demand for injectable weight-loss drugs.