Novo Nordisk's Shares Soar 5% Following 'Solid' Launch of Wegovy Obesity Pill
The U.S. launch of Novo Nordisk's groundbreaking GLP-1 pill for obesity has kicked off with a promising start, causing a 5% surge in the company's shares on Friday. This comes as early prescription data reveals a positive response to the new weight loss treatment.
On January 15, 2026, a pharmacist in Provo, Utah, displayed a box of Wegovy pills, marking the official launch of the first-ever oral medication for obesity in the U.S. on January 5. The Danish pharmaceutical giant's efforts to reclaim market share from its main competitor, Eli Lilly, are now bolstered by this initial success.
TD Cowen analysts described the launch as a 'solid start,' but emphasized the need for caution. They noted that while one data point is encouraging, it's too early to establish a trend. The analysts are awaiting more comprehensive data to accurately assess the initial demand for Wegovy, which received U.S. approval in late December.
Despite the early positive signs, the analysts also highlighted the competitive landscape. Eli Lilly, which secured the majority market share in early 2025, is closely following Novo Nordisk's progress in the oral obesity pill market. Eli Lilly's own oral drug for obesity is set to launch soon, potentially impacting the demand for Wegovy.
Leerink Partners analyst David Risinger provided additional insights, revealing that Wegovy had approximately 3,100 prescriptions filled in its first week, according to IQVIA data. In comparison, Eli Lilly's Zepbound, an injectable obesity treatment, had around 1,300 prescriptions in its first week and 8,000 in the second week after its U.S. approval in late 2023. However, the TD Cowen analysts cited slightly different data, suggesting around 4,290 prescriptions for Wegovy during its first full week, with the majority being for the starting dose.
The analysts also pointed out that the data might not include prescriptions through Novo Nordisk's direct-to-consumer pharmacy or telehealth partners, which could significantly impact the overall demand. They predict that a more comprehensive comparison between the pill and injections will be available early next week, but the figures may take several quarters to provide a clearer picture.
Michael Nedelcovych, a TD Cowen analyst, expressed interest in the direct-to-consumer channel's performance, which holds great potential for the pill's success. However, he also noted that demand could shift once Eli Lilly's oral drug, orforglipron, enters the market in the coming months, potentially impacting the trajectory of Wegovy's sales.
Despite the head start, Novo Nordisk's Wegovy faces challenges due to its dietary restrictions, requiring patients to refrain from food or drink for 30 minutes after taking the pill with water. In contrast, Eli Lilly's oral drug does not impose such restrictions, which could influence patient preference and uptake.
