Novo Nordisk dropped a bombshell at the end of 2025. On December 23, the company announced that its daily oral semaglutide tablets (trade name: Wegovy® ) received FDA approval, becoming the world's first oral GLP-1 receptor agonist for weight management. The product is expected to launch in the US out-of-pocket market in early January 2026, marking a shift in the competition for GLP-1 weight-loss drugs from the injectable era to a "dual-dosage form" era with both oral and injectable options.

Image source: Novo Nordisk website

Compared to the injectable version, Wegovy tablets have unique requirements regarding administration. Patients must take it daily on an empty stomach, with only a small amount of water, and must not eat, drink, or take other medications for half an hour after taking the medication. This strict administration guideline aims to ensure optimal absorption of the drug in the gastrointestinal tract, but it also places higher demands on patient adherence. In contrast, Eli Lilly's oral GLP-1 drug, orforglipron, which is under development, has no restrictions on food or water intake and is expected to receive FDA approval in the summer of 2026. Novo Nordisk demonstrates market flexibility in its pricing strategy. The starting dose of 1.5 mg once daily is priced at $149, with the price increasing accordingly as the dose is gradually increased to a maintenance dose of 25 mg. This pricing system considers both drug development costs and provides options for patients with different needs. In 2024, semaglutide's global sales surpassed Merck's Keytruda to become the top-selling drug, with Wegovy injections contributing over 60 billion RMB (approximately 29% market share) . However, Novo Nordisk faces its "darkest hour" in 2025 – due to weak market growth expectations, the company lowered its full-year sales growth guidance from 13-21% to 8-14% in July.
With the successive launches of oral GLP-1 drugs, the global obesity treatment market is leaping from tens of billions to hundreds of billions of dollars. Novo Nordisk holds a favorable position due to its first-mover advantage, but Eli Lilly is rapidly catching up through the differentiated advantage of its orforglipron. In the next two years, competition in the GLP-1 drug field for obesity treatment will intensify, with price wars, expanded indications, and combination therapies becoming the main competitive strategies.

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