Novo Nordisk (NVO) Stock Rises as Oral Wegovy Receives European Approval Nod

Key Takeaways

• European Medicines Agency has issued a positive recommendation for Novo Nordisk’s oral version of Wegovy
• The medication would become Europe’s pioneering oral treatment for weight management if fully approved
• Clinical trial participants experienced average weight reduction of 16.6% compared to 2.7% with placebo over 64 weeks
• Final marketing clearance from the European Commission remains pending
• Novo debuted its Wegovy tablet in America earlier this year; competitor Eli Lilly introduced Foundayo in April

European regulators have given a favorable assessment to Novo Nordisk’s oral Wegovy formulation, setting the stage for it to become the continent’s inaugural approved oral obesity medication.

Novo Nordisk A/S, NVO

The positive opinion was delivered by the EMA’s Committee for Medicinal Products for Human Use (CHMP) on Friday, May 22. This recommendation represents an expansion of Wegovy’s current European marketing approval, which presently encompasses only the once-weekly injection formulation.

The European Commission will now assess the CHMP’s opinion before rendering a final determination on commercial authorization.

NVO stock was hovering around $65 in New York trading when the announcement was made, although shares have experienced headwinds this year from general market turbulence and competitive pressures.

The tablet formulation contains semaglutide — the identical active pharmaceutical ingredient found in Novo’s injectable Wegovy and Ozempic products. The pharmaceutical company currently markets an oral semaglutide medication for type 2 diabetes management called Rybelsus.

The EMA’s favorable assessment relies on evidence from a phase 3 clinical trial. Participants receiving the 25mg oral Wegovy formulation achieved an average 16.6% reduction in body weight throughout 64 weeks of treatment. Those receiving placebo lost merely 2.7%.

Competition Heats Up Between Novo and Lilly

Novo Nordisk captured first-mover status in the American market. The Danish pharmaceutical company introduced its Wegovy tablet in the United States following FDA clearance in December 2024, ahead of Eli Lilly’s once-daily obesity pill Foundayo, which reached the US market in April 2026.

Across the Atlantic, Novo appears positioned to secure the early-mover benefit once more. Lilly’s oral weight management product has yet to obtain an EMA recommendation.

Preliminary US prescription figures for both tablet formulations have been robust, suggesting that oral alternatives are expanding the total addressable market rather than simply cannibalizing injectable product sales.

The global obesity pharmaceutical market is projected to reach $150 billion in annual revenue within the coming decade, based on industry analyst forecasts. Both Novo Nordisk and Eli Lilly are competing aggressively to establish dominant positions in this market through oral medication offerings.

Looking Ahead

The CHMP’s positive opinion now advances to the European Commission, which will deliver the official marketing authorization verdict. This regulatory process is anticipated to wrap up during the summer months, according to EMA Executive Director Emer Cooke, who provided commentary to Reuters last month.

Following Commission approval, the oral Wegovy tablet will become available for physician prescription throughout all EU member nations. Novo Nordisk already maintains established commercial distribution channels through its existing injectable Wegovy launch across Europe.

The oral Wegovy formulation follows a once-daily dosing schedule. The EMA’s recommendation covers the 25mg strength utilized in the pivotal clinical study.

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