Lilly’s obesity pill hits nearly 4000 prescriptions in second week after launch

By Sriparna Roy

April 24 (Reuters) – Eli Lilly’s newly launched oral weight-loss drug was prescribed 3,707 times in the United States in the second week after its launch earlier this month, according to analysts citing IQVIA data.

The Foundayo brand pill had 1,390 prescriptions in its first week.

Investors are watching the launch closely as an important test of whether Lilly can take share from Danish rival Novo Nordisk, which has a first-mover advantage in the oral obesity drug market.

Novo’s Wegovy pill, which has been on the market since January, reached 18,410 prescriptions in its second week, up from 3,071 in its first week.

“While we believe comparisons made early in the launch should be downplayed, this week’s acquisition of Foundayo is likely to be received negatively,” said RBC Capital Markets analyst Trung Huynh.

Shares of the drugmaker were trading 1.5% lower before the bell, while U.S.-listed Novo shares were 2% higher.

JP Morgan analyst Chris Schott noted that this represents a slightly slower rise compared to verbal Wegovy, adding that this is not surprising given Wegovy’s advantages in terms of time to market and brand awareness.

Foundayo was approved in the U.S. on April 1, and prescriptions were accepted immediately on LillyDirect, with shipping beginning April 6. Wide availability through retail pharmacies and telehealth providers in the U.S. began April 9.

Lilly has previously warned that the weekly figures will not be fully comprehensive and may not include all of its pharmacy partners and are “best interpreted over time rather than a complete count.”

(Reporting by Sriparna Roy in Bengaluru; Editing by Tasim Zahid)