Wegovy Sales Surge 83%! Novo Nordisk Q1 Financial Report Released

On May 7th, Novo Nordisk announced its Q1 2025 financial report: In Q1, global sales reached DKK 78.087 billion, which is approximately USD 11.9 billion at the current exchange rate (1 DKK = 0.1524 USD), representing an 18% year-on-year increase (calculated at CER, the same below).

Diabetes and obesity treatments continue to be the main revenue drivers. 

Among them, diabetes sales reached DKK 55.044 billion (approximately USD 8.389 billion), an 8% year-on-year growth, mainly driven by the growth of GLP-1 products and insulin. 

The GLP-1-based type 2 diabetes treatment portfolio (Ozempic, Rybelsus, and Victoza) collectively generated sales of DKK 39.574 billion (approximately USD 6.031 billion), up 11% year-on-year.

Meanwhile, Wegovy and Saxenda together achieved sales of DKK 18.424 billion (approximately USD 2.808 billion), showing an impressive 65% year-on-year growth. Of this, Wegovy's sales skyrocketed by 83% to DKK 17.36 billion (approximately USD 2.646 billion), making it the undisputed star of growth. 

The blockbuster drug semaglutide has multiple versions in the global market: the diabetes injection Ozempic, the oral version Rybelsus, and the weight loss indication Wegovy. These three products together contributed DKK 55.776 billion (approximately USD 8.5 billion) in Q1 sales, accounting for as much as 71% of the company’s total revenue. The sales figures are as follows:

• Ozempic: DKK 32.721 billion (approximately USD 4.987 billion), up 15% year-on-year
• Rybelsus: DKK 5.695 billion (approximately USD 0.868 billion), up 13% year-on-year
• Wegovy: DKK 17.36 billion (approximately USD 2.646 billion), up 83% year-on-year

In addition to the metabolic field, Novo Nordisk’s rare disease business also achieved moderate growth, with Q1 sales reaching DKK 4.619 billion (approximately USD 0.704 billion), up 3% year-on-year. 

In the Chinese market, Novo Nordisk achieved revenue of DKK 5.622 billion (approximately USD 0.857 billion), up 25% year-on-year, significantly higher than the global average, continuously strengthening its growth momentum in China. 

Semaglutide's three products have all been approved in China, with combined revenue of approximately USD 343 million in this quarter. The breakdown is as follows:

• Ozempic sales: DKK 1.51 billion (approximately USD 0.230 billion)
• Rybelsus: DKK 0.057 billion (approximately USD 0.008 billion)
• Wegovy: DKK 0.686 billion (approximately USD 0.105 billion), showing initial market acceptance

Recently, Novo Nordisk announced that CagriSema (a combination of cagrilintide and semaglutide) achieved an average weight loss of 15.7% in the REDEFINE 2 Phase III clinical trial for adults with obesity or overweight and type 2 diabetes, showing significant efficacy superior to the control group. The company plans to submit CagriSema's first market application to regulatory authorities in Q1 2026. 

In addition, the company is actively advancing other R&D projects. 

• The oral semaglutide 25 mg for obesity treatment has been submitted for regulatory review by the US FDA and is expected to further expand the oral GLP-1 segment. 
• The weekly injection of semaglutide 2.4 mg for MASH (metabolic-associated fatty liver disease) has been submitted for market approval in both the EU and the US, with the US granting priority review status, demonstrating its potential breakthrough value in the MASH field. 

From CagriSema’s combined mechanism to the multi-indication development of semaglutide (covering type 2 diabetes, obesity, cardiovascular risk reduction, and MASH), Novo Nordisk is building a product matrix centered on GLP-1, covering high-growth indications such as diabetes, obesity, and MASH.