Novo Nordisk shares rise after launch of obesity pill Wegovy

Actions of Novo Nordisk rose more than 8% Friday after early prescription data showed an encouraging start to the U.S. launch of the company’s new GLP-1 obesity pill.

In a note Friday, analysts at TD Cowen called it a “strong start” for the first-ever diet pill, but said “a single data point does not establish a trend.” They cautioned that they needed more data to fully assess the initial application for the Wegovy pill, which was officially launched on January 5 after gaining approval in late December.

Nonetheless, the early data bolsters the Danish drugmaker’s hopes of winning back more market share from its main rival, Elie Lillythis year in the booming market for drugs against obesity and diabetes. Eli Lilly won the majority market share in early 2025 and is closely following Novo Nordisk in the pill space, as it prepares for the upcoming launch of its own oral obesity drug.

In a Friday note, Leerink Partners analyst David Risinger said about 3,100 prescriptions for the Wegovy pill were filled in the first week of the launch, citing IQVIA data for the week ending Jan. 9. During the first week of the commercial launch of Eli Lilly’s popular obesity injection, Zepbound, about 1,300 prescriptions were filled, and about 8,000 were filled in the second week, he noted. This injection won approval in the United States at the end of 2023.

Analysts at TD Cowen cited somewhat different data released by Symphony via Bloomberg.

Analysts said about 4,290 prescriptions were filled for Novo Nordisk’s pill in its first full week of launch, the majority for the drug’s starting dose. They added that data from their source or IQVIA likely does not include prescriptions through Novo Nordisk’s direct-to-consumer pharmacy or its telehealth partners.

Analysts said that compares to the roughly 1,900 prescriptions filled for Zepbound during its first full week on the market.

Assuming Symphony’s data is accurate, the pill “is already ahead of its injectable counterparts at the same stage of its launch,” Michael Nedelcovych, an analyst at TD Cowen, wrote in the note. A more direct comparison between the pill and the shots can be made based on data available early next week, although the numbers may not prove more useful for two or three quarters, he added.

Nedelcovych said he wanted to get a complete overview of the direct-to-consumer channel, which holds “very promise” for the pill’s launch.

Demand could also shift once Eli Lilly’s pill, or forglipron, enters the market in the coming months, he added.

Although Novo Nordisk’s drug has a head start, it is a peptide drug with dietary requirements (no food or drink for 30 minutes after taking the pill with water) that can hinder its absorption. Eli Lilly’s pill is a small molecule drug and not a peptide, which means it is not subject to these restrictions.