Novo Nordisk's oral Wegovy pill sales came in below analyst expectations in the second quarter, triggering a post-earnings sell-off that erased much of the stock's gains from earlier in the year. The company reported Wegovy pill sales of 3.22 billion Danish kroner, or $500 million, short of the projected $3.3 billion, or $510 million. Despite the miss, the Denmark-based drugmaker remains the leader in the oral weight-loss market, with more than 80% of patients on the pill having never taken GLP-1s before. The company faces ongoing headwinds from rival Eli Lilly, whose GLP-1 portfolio is growing rapidly, but Novo Nordisk still has several mid- and late-stage candidates that could strengthen its competitive position. For long-term investors, the investment thesis remains intact, according to the article.
