Despite short-term challenges, Novo Nordisk continues to be in the focus of investors and scientists with its active ingredient semaglutide.
• Despite price declines, semaglutide remains a billion-dollar business for Novo Nordisk and a central pillar of the company
• New research shows potential additive effects of semaglutide
• China’s Supreme Court upheld the semaglutide patent
Despite price losses on the stock market, semaglutide remains a beacon of hope for Novo Nordisk. The drug is not only convincing in the treatment of diabetes and obesity, but also opens up new fields of research. Experts see long-term potential for growth and innovation.
Opportunities despite difficult stock market conditions
Novo Nordisk experienced a turbulent year: its shares plummeted and the company made the largest leadership reshuffle in its 100-year history. The reason was investors’ doubts as to whether the company can continue to achieve high sales with its GLP-1 drugs such as semaglutide (Ozempic, Wegovy), reports CNBC.
From diabetes medication to a billion-dollar business
Semaglutide was originally developed to regulate blood sugar in diabetes, but quickly gained importance due to its effect on body weight. Wegovy, which contains the active ingredient semaglutide, was first approved by the FDA in 2017 and is now approved for obesity and to reduce cardiovascular risks in high-risk patients. Today, Novo Nordisk generates billions in sales with semaglutide; the drug is a central pillar of the company’s strategy, according to CNBC.
New treatment option for liver disease
In August 2025, the FDA announced in a statement that Wegovy could be used for the first time to treat metabolic-associated steatohepatitis (MASH). Adults with moderate to advanced liver fibrosis may be treated in the future. According to the FDA, about six percent of the adult US population is affected – around 14.9 million people. With the approval, those affected will for the first time have access to a targeted drug treatment option for this progressive disease.
New perspectives for semaglutide
The FDA further announced that Wegovy not only works for weight loss, but also appears to affect mechanisms that reduce liver inflammation and scarring – effects that are not yet fully understood. For this use, the drug received “Breakthrough Therapy” status and was brought to market via an accelerated approval process. Therapies for serious illnesses can be made available earlier, based on laboratory values, while further data confirm the benefit after approval.
Studies indicate that semaglutide can not only influence the reward system in the brain and reduce cravings for food, alcohol or nicotine, but also shows initial positive effects on relevant proteins in Alzheimer’s disease, which, according to experts, provides valuable information for preventive approaches even if the study was not able to achieve all of the main objectives, reports CNBC.
China’s Supreme Court upholds patent
According to a press release from Novo Nordisk dated December 31, 2025, China’s Supreme People’s Court confirmed the semaglutide patent and supports an earlier ruling by the Beijing court. Novo Nordisk CEO Mike Doustdar described the ruling as a positive signal for the protection of medical innovations and for the trust of foreign companies in China. Semaglutide is the main ingredient in Wegovy, Ozempic and Rybelsus and has been used in approximately 38 million patient years worldwide. Novo Nordisk expects little impact on global revenue growth in 2026.
Financial pressures and opportunities
While investors expect short-term results, the development of new drugs often takes years and new areas of application must first be proven in extensive studies – investor expectations are often at odds with the lengthy process of drug development, according to CNBC.
In 2025, Novo Nordisk shares lost almost half of their value. According to CNBC, reasons for this include competition from Eli Lilly, cheaper copycat products from compounding pharmacies, upcoming patent expirations for semaglutide in 2031 and 2032 and price pressure in the USA.
Analysts at Jefferies therefore do not see a stable valuation floor, even if lower prices in the USA could increase demand in the short term. Goldman Sachs is somewhat more cautiously optimistic: In the growing market for obesity drugs, products such as Wegovy, CagriSema and the oral version of Wegovy could create additional value as prescription numbers increase and the market potential becomes visible, according to a report on CNBC.
Editorial team finanzen.net
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