Who Novo Nordisk buys from and sells to
Makes semaglutide (Ozempic, Wegovy, Wegovy pill) and insulin; fills pens at its own and ex-Catalent sites.
Part of GLP-1 and Specialty Pharmaceuticals spending
Buys from 2
- Catalent (Novo Holdings)contract fill-finish beyond the three sites Novo bought
- West PharmaceuticalWSTelastomer components for GLP-1 pens
Sells to 5
- McKessonMCKwholesale distribution in the US
- CencoraCORwholesale distribution in the US
- Cardinal HealthCAHwholesale distribution in the US
- CVS HealthCVSCaremark preferred Wegovy from July 2025; co-preferred from Oct 2026
- Hims & HersHIMSWegovy and Ozempic sold through the telehealth platform since Mar 2026
Where the chain could break
- Semaglutide carries most of sales; 2026 guidance is for adjusted sales down 5-13% at CER
- US price set by PBM formularies, government deals and cash-pay channels
- Compounded semaglutide undercuts list price whenever FDA enforcement lapses
Competes with
- Eli LillyLLYtirzepatide, which has taken the lead in US obesity scripts
- AmgenAMGNMariTide, a monthly obesity injectable in development
- PfizerPFEMetsera's long-acting obesity injectables
Mapped by hand from filings and company reporting, as of October 2026. It shows the relationships that matter most, not every contract: most are never disclosed, and agreements change.