Novo Nordisk's New Diabetes Drug Outshines Ozempic: Is The Stock a Buy?

By Prosper Junior Bakiny – Feb 16, 2026 at 3:45PM ESTKey PointsNovo Nordisk's next diabetes/weight loss medicine should be better than its current crown jewel.The Danish drugmaker is still facing some challenges, but its pipeline could get it out of trouble. These 10 Stocks Could Mint the Next Wave of Millionaires ›NYSE: NVONovo NordiskMarket Cap$167BToday's Changeangle-down(1.31%) $0.64Current Price$49.57Price as of February 13, 2026 at 4:00 PM ETNovo Nordisk's plan to gain ground in the GLP-1 space is slowly taking shape.Ozempic has been one of Novo Nordisk's (NVO +1.31%) main growth drivers for several years now and has practically become a household name. However, the Denmark-based drugmaker has lost ground to its biggest competitor, Eli Lilly (LLY +0.33%), in the GLP-1 market.

Can Novo Nordisk turn things around and increase its market share? That will largely depend on its next-generation therapies, since its current lineup will lead to declining sales this year, according to the company's guidance. One of Novo Nordisk's promising candidates is called CagriSema. This investigational medicine recently made more headlines. Let's consider whether CagriSema's progress is a good reason to invest in Novo Nordisk's stock. Image source: Getty Images. Another phase 3 win CagriSema is a dual agonist, meaning it mimics the actions of two different gut hormones: GLP-1 and amylin, both of which help regulate blood sugar and satiety. In late 2024, Novo Nordisk announced that CagriSema performed better than semaglutide (the active ingredient in the brands Wegovy for weight loss and Ozempic for diabetes) in a phase 3 weight-loss clinical trial in patients who were overweight or obese but who didn't have type 2 diabetes. The next-gen GLP-1 therapy led to a mean weight reduction of 22.7% after 68 weeks, compared with 16.1% with Wegovy. The pharmaceutical giant recently shared data from another late-stage study with CagriSema, in which it went head-to-head against Ozempic in type 2 diabetes patients who were also overweight or obese. In the trial, CagriSema led to an average 1.91% reduction in blood sugar from a baseline of 8.2%. It also led to an average weight loss of 14.2% (diabetes patients have a harder time dropping pounds). CagriSema beat Ozempic in this study. What's next for Novo Nordisk? Novo Nordisk has already submitted regulatory applications for CagriSema as a weight loss treatment. It will seek regulatory approval for the diabetes medicine after completing two other phase 3 studies, including one focused on cardiovascular outcomes. Despite CagriSema's strong performance, it will be more complex to manufacture (and more expensive) than semaglutide, which has run into supply constraints several times. Also, CagriSema still doesn't seem to match the efficacy of Eli Lilly's retatrutide, which posted an outrageous mean weight loss of up to 28.7% in a phase 3 study. ExpandNYSE: NVONovo NordiskToday's Change(1.31%) $0.64Current Price$49.57Key Data PointsMarket Cap$167BDay's Range$49.20 - $49.8452wk Range$43.08 - $93.80Volume10MAvg Vol22MGross Margin80.90%Dividend Yield3.48% It's always hard to compare across clinical trials, but with Zepbound currently dominating the market and promising medicines in development like retatrutide, Eli Lilly should remain the leader. Still, CagriSema's superiority to Wegovy and Ozempic should help Novo Nordisk perform better, especially as the company has been expanding its manufacturing capacity. Further, Novo Nordisk has several promising diabetes and weight products in development, including Amycretin, in both oral and subcutaneous formulations. Finally, Wegovy has recently earned important label expansions, including for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), which will help boost its sales. The company's revenue could start moving in the right direction again with new approvals and label expansions. For all those reasons, Novo Nordisk is worth considering.Read NextFeb 14, 2026 •By Dave KovaleskiGot $500? 2 Pharma Stocks to Buy and Hold Forever.Feb 9, 2026 •By Rich SmithWhy Novo Nordisk Stock Just PoppedFeb 8, 2026 •By Reuben Gregg BrewerNovo Nordisk Plunges Nearly 15% After Earnings. Here's What Investors Need to Know.Feb 6, 2026 •By Brett SchaferWhy Shares of Novo Nordisk Stock Collapsed This WeekFeb 4, 2026 •By David Jagielski, CPANovo Nordisk Plunges After Releasing a Brutal Forecast.

Should You Dump the Stock?Feb 3, 2026 •By Eric TrieStock Market Today, Feb. 3: Novo Nordisk Slides as Pricing Pressure Clouds Obesity-Drug OutlookAbout the AuthorProsper Junior Bakiny is a contributing Motley Fool healthcare analyst covering biotechnology, pharmaceuticals, and healthcare stocks.

Before The Motley Fool, Prosper wrote about investing topics ranging from stock market news to private equity for various companies. He holds a master’s degree in corporate finance from the University of Maryland Global Campus.TMFPBakinyStocks MentionedNovo NordiskNYSE: NVO$49.57 (+1.31%) $+0.64Eli LillyNYSE: LLY$1040.00 (+0.33%) $+3.46*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.