Danish pharmaceutical giant Novo Nordisk's new oral version of Wegovy beat first-quarter expectations with revenues reaching nearly DKK 2.3 billion, prompting the company to slightly raise its full-year guidance.

However, significant challenges persist for the healthcare heavyweight, according to a commentary by Dagens Industri. The publication notes that Ozempic continues to lose sales momentum, patent protections are expiring across several markets, and U.S. President Donald Trump's mandated price cuts are expected to weigh on cash flow moving forward.

The newspaper also highlights intensifying competition from Eli Lilly, which recently launched its own weight-loss pill.

Overall, the paper argues that Novo Nordisk's low valuation reflects its weak growth prospects and that the stock's recovery remains a distant prospect.