Novo Nordisk’s obesity-drug franchise has surged at a remarkable pace. In just four years, revenue from its weight-management treatments ballooned roughly tenfold - from about $1.3 billion in 2021 to approximately $12.4 billion in 2025. The growth has been fueled largely by Wegovy, the company’s blockbuster weight-loss drug built around the active ingredient semaglutide and marketed as a once-weekly injection.

Semaglutide itself was originally developed to treat type 2 diabetes and continues to be sold under the brand name Ozempic for that purpose. The primary difference between the two products lies in dosage. As Statista notes, Wegovy is formulated at higher semaglutide levels for weight management, while Ozempic is designed for blood-sugar control in diabetic patients. In practice, however, Ozempic has frequently been prescribed off-label for weight loss - a practice that is restricted or prohibited in several European Union countries.

Regardless of branding, the United States has emerged as Novo Nordisk’s most important market. According to the company’s 2025 annual report, the U.S. accounts for the overwhelming share of sales for both Ozempic and Wegovy. For drugs marketed specifically for weight loss, more than 60% of global revenue comes from the American market - a reflection of both the country’s large pharmaceutical sector and its high obesity rates, which have helped make the U.S. the epicenter of the global GLP-1 boom.