On Friday, Novo Nordisk (NVO) shares saw an increase in pre-market trading. This market movement is directly linked to a new initiative by Amazon’s digital pharmacy. The platform announced it has started offering Novo Nordisk’s weight-loss drug Wegovy in oral tablet form through its services, which is currently the first and only oral GLP-1 drug approved by the U.S. FDA for weight management. This move is seen as further expanding the accessibility of the drug.
According to the announcement, eligible commercial health insurance users purchasing Wegovy oral tablets through Amazon Pharmacy can pay as little as $25 per month out of pocket. For consumers without insurance, a self-pay option is available starting at $149 per month. The platform allows users to compare insurance-covered prices with self-pay options, automatically applies eligible coupons at checkout, and provides fast delivery services covering all 50 U.S. states, with nearly half of users eligible for same-day delivery. Market observers believe this highlights Amazon’s strategic push into the healthcare and prescription drug distribution sectors. Against the backdrop of surging demand for GLP-1 drugs, the involvement of e-commerce and digital health platforms could have far-reaching implications for traditional drug distribution channels.
Looking back at 2025, it was not a smooth year for Novo Nordisk, as the company faced challenges such as intensified competition in core areas and slowing growth of its flagship products Ozempic and Wegovy. However, 2026 may bring a turnaround, with two key positive factors playing a crucial role.
First, the momentum driven by new drug approvals and expanded indications. Despite setbacks last year, Novo Nordisk still made significant progress. Its weight management drug Wegovy has been approved for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), a field that previously had only one drug, Rezdiffra, approved in 2024. Clinical trials have shown that Wegovy is comparable in efficacy to Rezdiffra, and Novo Nordisk, with its scale, funding, and marketing advantages, is well-positioned to achieve substantial sales for this indication. Additionally, the oral version of Wegovy, as the first oral GLP-1 drug approved for weight loss, is expected to capture a broad market due to its convenience. These new indications and formulations are likely to boost Wegovy sales and drive the company’s overall performance growth.
Second, progress in the research and development pipeline warrants attention. To regain market share in the highly competitive GLP-1 market, Novo Nordisk is actively advancing its pipeline of investigational drugs. Among them, the candidate drug amycretin has attracted significant interest due to its ability to mimic the effects of two hormones, GLP-1 and amylin. Currently, both its subcutaneous and oral formulations are in Phase III clinical trials, with interim data potentially available in 2026. Furthermore, notable progress in early-stage pipeline candidates such as the triple agonist UBT251 could also bolster market confidence.
In summary, after facing difficulties such as underwhelming financial performance, clinical trial setbacks, and drug price negotiations, the toughest period for Novo Nordisk may be behind it. In the coming years, sales of Wegovy and Ozempic are expected to remain robust, and the company is poised to launch new products, including CagriSema, for which a marketing application has already been submitted. Currently, the company’s forward price-to-earnings ratio is approximately 14 times, below the healthcare industry average of 18.4 times, indicating relative attractiveness in terms of valuation. The expansion of distribution channels and progress in new drug development together form the potential growth drivers for Novo Nordisk in 2026.
