A pharmacist displays a box of Wegovy pills at a pharmacy in Provo, Utah, US, on Thursday, Jan. 15, 2026.
George Frey | Bloomberg | Getty Images
Shares of Novo Nordisk rose more than 8% on Friday after early prescription data showed an encouraging start to the U.S. launch of the company’s new GLP-1 pill for obesity.
In a Friday note, TD Cowen analysts called it a “solid start” for the first-ever weight loss pill, but said “one data point does not make a trend.” They cautioned that they need to see more data to fully assess what early demand is like for the Wegovy pill, which officially launched on Jan. 5 after winning approval in late December.
Still, the initial data is a boost to the Danish drugmaker’s hopes of winning back more market share from its chief rival, Eli Lilly, this year in the booming obesity and diabetes drug space. Eli Lilly won the majority market share in early 2025 and is trailing closely behind Novo Nordisk in the pill space, as it prepares for the upcoming launch of its own oral drug for obesity.
In a Friday note, Leerink Partners analyst David Risinger said the Wegovy pill had around 3,100 prescriptions filled in the first week of the launch, citing IQVIA data for the week ending Jan. 9. Eli Lilly’s popular obesity injection, Zepbound, had around 1,300 prescriptions filled in the first week of its commercial launch, and roughly 8,000 in the second week, he noted. That injection won U.S. approval in late 2023.
The TD Cowen analysts cited slightly different data published by Symphony through Bloomberg.
The analysts said around 4,290 prescriptions were filled for Novo Nordisk’s pill during its first full week of launch, with the majority being for the starting dose of the drug. They added that the data from their source or IQVIA likely don’t include prescriptions through Novo Nordisk’s direct-to-consumer pharmacy or its telehealth partners.
The analysts said that compares to the roughly 1,900 prescriptions filled for Zepbound during its first full week on the market.
Assuming the Symphony data is accurate, the pill “it is already outstripping its injectable counterparts at the same stage of their launch,” TD Cowen analyst Michael Nedelcovych wrote in the note. A more direct comparison between the pill and the injections can be made based on available data early next week, though the figures may not prove more useful for another two to three quarters, he added.
Nedelcovych said he wants to see the full picture on the direct-to-consumer channel, which holds “significant promise” for the pill’s launch.
Demand could also shift once Eli Lilly’s pill, orforglipron, enters the market in the next few months, he added.
While Novo Nordisk’s drug has a head start, it is a peptide medication with dietary requirements – no food or drink for 30 minutes after taking the pill with water – that may hinder uptake. Eli Lilly’s pill is a small molecule drug and not a peptide, meaning it does not have those restrictions.
