Novo Nordisk Advances Obesity Pipeline With Early-Stage Oral Drug Trial From Lexicon Deal

Novo Nordisk (NVO) is pushing deeper into next-gen obesity treatments. The drugmaker announced on Monday that it has initiated a Phase 1 study of LX9851, Lexicon Pharmaceuticals’ oral non-incretin drug candidate for obesity and related metabolic disorders. 

This adds to Novo’s obesity treatment pipeline, which also features the semaglutide injection, famously known as Wegovy. 

At the time of writing, NVO shares fell 1.5%, while Lexicon Pharmaceuticals’ (LXRX) stock climbed around 1% in Monday pre-market trading.

The start of the trial triggered a second $10 million milestone payment to Lexicon under their licensing deal signed in March 2025. The agreement gives Novo Nordisk exclusive global rights to develop and commercialize the drug, with Lexicon eligible to receive up to $1 billion in total milestone payments, as well as royalties on future sales.

The Phase 1 study will evaluate safety and dosing in 96 overweight or obese participants. The trial is expected to be completed in early 2027, marking an important step in advancing the company’s pipeline.

“LX9851 offers a novel approach to the treatment of obesity and related metabolic conditions. It is an important addition to our pipeline of potential treatment options as we look to meet the diverse needs of people living with obesity, diabetes and their associated comorbidities,” said Jacob Sten Petersen, Senior Vice President and Head of Global Research at Novo Nordisk. 

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