News · November 2026

Novo Nordisk Q3 2026 results: what they say about Wegovy and Ozempic prices in the U.S.

Released: November 9, 2026 · Last reviewed: November 9, 2026

What did Novo Nordisk report for the third quarter of 2026?

Novo Nordisk's adjusted sales were DKK 79,195 million in the third quarter of 2026, up 4% at constant exchange rates (CER). That comes from company announcement No 65/2026, the financial report for January 1 to September 30, 2026, which Novo also filed with the SEC on November 4. Adjusted sales for the first nine months were DKK 227,746 million, up 2%.

Adjusted operating profit rose 27% at CER to DKK 31,720 million. Novo says part of that jump reflects "a favourable comparison base following DKK 9 billion of company-wide transformation costs recognised in Q3 2025." Reported operating profit fell 9% after DKK 8.7 billion of non-cash impairment charges.

U.S. Operations grew 1% at CER in the quarter. Over nine months, U.S. sales fell 2%, which Novo puts down to "lower realised prices, largely offset by volume growth."

How did Wegovy and Ozempic sell in the U.S. in Q3 2026?

The Wegovy pen shrank and the new pill more than made up for it. Ozempic, Novo's type 2 diabetes brand, declined.

Combined U.S. Wegovy sales in the quarter were DKK 11,066 million + DKK 4,178 million = DKK 15,244 million, so the pill's share was 4,178 ÷ 15,244 = 27%. Novo says combined U.S. Wegovy sales grew 21% at CER.

Ozempic's U.S. injectable sales are still larger than both forms of Wegovy together: DKK 19,205 million against DKK 15,244 million. But Ozempic fell 11% in the quarter. For U.S. GLP-1 diabetes sales as a whole, Novo cites "lower volumes and wholesaler inventory movements, partly offset by slightly higher prices due to channel mix."

The Ozempic pill, which Novo made available nationwide on May 4, is reported together with Rybelsus, and that line grew 5%. NovoCare's Rybelsus page now says "RYBELSUS® is being replaced by Ozempic® pill."

Are Wegovy and Ozempic prices going down in the U.S.?

Novo's realized prices are falling, but that is not the price you see at checkout. A realized price is what Novo actually collects after rebates and discounts across all its channels. The report says nine-month U.S. Wegovy pen sales fell 15%, "driven by lower realised prices, partly countered by increased volumes." Ozempic's 8% nine-month decline was "mainly driven by lower realised prices in the commercial channel and lower volumes."

The outlook section names two causes: "investments in market access" and the MFN (Most Favoured Nations) agreement "with the US Administration to bring GLP-1s to more Americans at a lower cost."

One list-price change has a date. Novo repeated that on January 1, 2027, it will lower the list price (wholesale acquisition cost) of Wegovy injection 2.4 mg and 7.2 mg, Wegovy tablets up to 25 mg, Ozempic injection 0.5 mg, 1 mg and 2 mg, and Ozempic pill 7 mg or 14 mg to USD 675. Novo describes that as reductions "of approximately 50% and 35% for Wegovy® and Ozempic®, respectively."

The report does not say the January cut changes NovoCare's self-pay prices. A list price mostly matters when an insurance plan bases your share on it, for example through coinsurance or while you are still paying toward a deductible. If you already pay cash through NovoCare, nothing in this report announces a new cash price.

How many Wegovy patients pay cash?

About a third of U.S. Wegovy pen prescriptions. Novo says U.S. Wegovy injectable prescriptions totaled "approximately 4.1 million" in Q3 2026, "of which around 35% were filled through the self-pay channel via retail and telehealth (including NovoCare®)." That works out to roughly 4.1 million × 0.35 = about 1.4 million self-pay pen prescriptions in one quarter.

The Wegovy pill reached "around 3.6 million" U.S. prescriptions in Q3 and "more than 8 million since launch." Novo says uptake is coming from GLP-1-naïve patients "across all doses in the self-pay channel as well as the Medicare Bridge programme," and that pill self-pay prices "range from USD 149–299 per month by dose." More than 30% of weekly U.S. pill prescriptions are now for the two highest doses, 9 mg and 25 mg, which sit at the $299 end of that range.

Novo also added a subscription option "from late Q1," with 3-, 6- or 12-month plans for the Wegovy pen and pill, and reports "around 55,000 active subscriptions" at the end of Q3. The report prints no subscription prices, and the NovoCare pages we read did not show any, so we list none here.

The Medicare GLP-1 Bridge started on July 1, 2026, and Novo calls initial uptake "encouraging." Medicare.gov says the Bridge covers Foundayo, Wegovy and the Zepbound KwikPen for a $50 monthly copayment. It does not cover Ozempic, and people with type 2 diabetes are not eligible for it.

Did Novo raise its 2026 outlook?

Yes, for the second quarter in a row. Novo now expects 2026 adjusted sales growth of -2% to +2% at CER, with the same range for adjusted operating profit growth.

Midpoints are simple averages of each range: (-12 + -4) ÷ 2 = -8; (-6 + 0) ÷ 2 = -3; (-2 + 2) ÷ 2 = 0. Novo says the latest raise is "driven by increased expectations for GLP-1 product sales." Even so, the outlook still assumes "a sales decline within US Operations," offset by growth elsewhere.

What this means for you

The report tracks sales, not prices. For your budget, what matters is NovoCare's self-pay price list (read November 9, 2026) and the compounded prices in our dataset.

Worked example: a year on the Wegovy pen

If you start the Wegovy pen through NovoCare and get both $199 introductory fills before December 31, 2026, your first 12 fills cost 2 × $199 + 10 × $349 = $398 + $3,490 = $3,888. Without the introductory offer, a year costs 12 × $349 = $4,188.

Worked example: the pill at the highest doses

At 9 mg or 25 mg, the Wegovy pill costs 12 × $299 = $3,588 a year. That is $4,188 − $3,588 = $600 less than a year of the pen at $349. NovoCare lists the 1.5 mg pill at $149.

Worked example: compounded semaglutide

Across the 23 compounded semaglutide programs we track that list a rankable price, the median lowest all-in monthly figure is $95, or 12 × $95 = $1,140 a year. NexLife charges $109 month to month or $95 a month on its 12-month plan ($1,140), the same at every dose, as of November 6, 2026. Eleven of the 23 programs list a lower figure than $95, and Mondae ($87) and Eden Health ($99) both charge less month to month than NexLife's $109.

Against a year of the Wegovy pen, the gap is $4,188 − $1,140 = $3,048. The products are not interchangeable, though. Compounded semaglutide is not FDA-approved; it is made with the drug in Ozempic and Wegovy but is not the same product. FDA says it "does not review compounded drugs for safety, effectiveness or quality before they are marketed," and lists "deep discounts or prices that seem too good to be true" among telehealth red flags. Our pages on compounded semaglutide vs Wegovy and whether compounded semaglutide is legal cover the trade-offs.

Three practical points:

• Brand cash prices did not move with this report. NovoCare's Wegovy pen and pill prices on November 9 matched what we recorded on October 15.
• The $199 introductory price for new Wegovy and Ozempic pen patients covers two monthly fills through December 31, 2026, and Novo "reserves the right to modify or cancel this program at any time."
• If you have Medicare and want Wegovy for weight management, the Bridge's $50 copay is lower than any cash price in the table, if you qualify. If you have type 2 diabetes, the Bridge is closed to you; see our Ozempic guide.

Will brand semaglutide get cheaper for cash buyers in 2027?

Novo hasn't said. The report confirms the January 1, 2027 list-price cut and describes continued investment in "direct-to-patient initiatives such as NovoCare® and through collaborations with telehealth providers." It does not announce new self-pay prices.

Three dated items are worth watching: the end of NovoCare's introductory offer on December 31, 2026; an FDA decision on a 25 mg Ozempic pill dose that Novo expects "during Q4 2026"; and Novo's planned U.S. launch of CagriSema "in early 2027, subject to regulatory approval."

We will update our pricing index and compounded semaglutide cost page if any of these change what you pay. The methodology page explains how we read and date prices, and the Wegovy page has the current brand price list. More coverage is on our news page.