Novo’s Wegovy pill posts strong US launch data

Oral Wegovy starts fast in the US obesity market

Novo Nordisk’s new Wegovy pill has recorded what analysts describe as an encouraging US debut, with 18,410 prescriptions in its first full week on the market. IQVIA data cited by analysts show the oral version of the company’s obesity treatment reached 3,071 prescriptions in its first four days after its 5 January launch, before accelerating in the following week.

Guggenheim analysts wrote that the oral product is “tracking ahead of other GLP‑1 launches,” suggesting a faster initial uptake than earlier drugs in the same class. The oral Wegovy formulation offers a needle‑free alternative to injectable GLP‑1 therapies, a factor analysts say can broaden appeal even though injectables are still expected to dominate the market for years.

Barclays analyst James Gordon called the early prescription data “very strong,” while noting that the launch is taking place in a “now far better established obesity market” compared with earlier rollouts which had to build demand for GLP‑1‑based weight‑loss drugs.

Novo seeks to rebuild momentum after difficult 2025

Novo Nordisk is using the Wegovy pill to support a broader effort to regain momentum in obesity care after a challenging 2025. The company is operating under a new CEO, Mike Doustdar, who took over last year as profit warnings and slowing growth weighed on its share price.

Since the start of 2026, Novo’s stock performance has improved markedly. Its shares have risen about 25% in January and gained a further 2.5% on the day of the latest prescription update, reaching their highest level since late July 2025, when Doustdar assumed the role amid sliding sales.

Novo is “banking on the pill version” of Wegovy to attract new consumers, according to the coverage accompanying the prescription data. The oral launch is intended to press what analysts describe as the company’s first‑mover advantage in obesity treatments against intensifying competition from Eli Lilly.

Implications for rivals and wider obesity drug demand

The strong start for oral Wegovy is also being closely watched by investors in Eli Lilly, which is developing its own oral obesity therapy, orforglipron. The US Food and Drug Administration is expected to make a decision on orforglipron by April.

Jefferies analyst Akash Tewari said the Wegovy pill data are “directionally encouraging for orfo,” using a shorthand for orforglipron, and suggested Lilly’s pill is likely to be used predominantly by patients who prefer oral therapy. While current prescriptions still favour injectable products such as Lilly’s Zepbound injection, the early interest in oral options is seen as supportive for the segment.

Guggenheim analysts also pointed to a spike in US Google search activity for Novo‑related terms such as NovoCare and Wegovy in January following the pill’s launch. They noted that searches for NovoCare’s pharmacy platform were running ahead of LillyDirect, Lilly’s direct‑to‑consumer channel, although searches linked to tirzepatide, the active ingredient in Lilly’s Zepbound, continued to lead overall.

Digital indicators underline strong consumer interest

Online search trends are being used as an additional gauge of consumer engagement with new obesity treatments. Guggenheim’s analysis found that, alongside the rise in searches for Wegovy and NovoCare, there was increased interest in Novo’s telehealth partners Ro and LifeMD, as well as in Hims & Hers.

The heightened online activity coincides with the early prescription data and is viewed as consistent with strong initial demand for Novo’s oral therapy. At the same time, analysts observe that search interest around tirzepatide remains high, underscoring the competitive landscape in which oral and injectable GLP‑1 products from multiple companies are likely to coexist.