Novo Nordisk shares rise after Wegovy obesity pill launch
A pharmacist displays a box of Wegovy pills at a pharmacy in Provo, Utah, United States, on Thursday, January 15, 2026.
George Frey | Bloomberg | Getty Images
shares Novo Nordisk It rose more than 5% on Friday after early prescription data showed the U.S. launch of the company’s new GLP-1 pill for obesity was off to an encouraging start.
In a Friday note, TD Cowen analysts called it a “solid start” for the first weight-loss pill but said “one data point does not establish a trend.” They cautioned that they needed to see more data to fully assess what early demand was like for the Wegovy pill, which was officially launched on January 5 after receiving approval in late December.
Still, early data boosts the Danish drugmaker’s hopes of gaining more market share from its chief rival. Eli LillyThis year, the field of obesity and diabetes drugs is booming. Eli Lilly won the majority of the market in early 2025 and is right behind Novo Nordisk in the pill space as it prepares to soon launch its own oral drug against obesity.
About 3,100 prescriptions were filled for the Wegovy pill in its first week of availability, Leerink Partners analyst David Risinger said in a note Friday, citing IQVIA data for the week ending Jan. 9. He noted that about 1,300 prescriptions were filled in the first week of commercial launch of Zepbound, Eli Lilly’s popular obesity injection, and about 8,000 prescriptions were filled in the second week. This injection received US approval in late 2023.
TD Cowen analysts cited slightly different data that Symphony released via Bloomberg.
About 4,290 prescriptions were filled for Novo Nordisk’s pill during its first week of availability, with the majority for an initial dose of the drug, analysts said. They added that the data from their sources or IQVIA likely did not include prescriptions dispensed through Novo Nordisk’s direct-to-consumer pharmacy or telehealth partners.
That compares with about 1,900 prescriptions filled during Zepbound’s first week on the market, analysts said.
Assuming the Symphony data is accurate, the pill “has already outperformed its injectable counterparts at the same stage of launch,” TD Cowen analyst Michael Nedelcovych wrote in a note. He added that a more direct comparison between the pill and injections could be made early next week based on available data, but that the figures may not be more useful for the next two to three quarters.
Nedelcovych said he wants to see the full picture in the direct-to-consumer channel, which offers “significant promise” for the pill’s launch.
He also added that demand could change as Eli Lilly’s pill or forgliprone enters the market in the next few months.
Although Novo Nordisk’s drug has an advantage, it is a peptide drug that has dietary requirements, such as no food or drink for 30 minutes after taking the pill with water, which may inhibit uptake. Eli Lilly’s pill is a small molecule drug and not a peptide, so it does not have these restrictions.
