Novo Nordisk's (NYSE:NVO) Wegovy pill, the oral version of its blockbuster GLP-1 (glucagon-like peptide-1) weight-loss treatment, is tracking at roughly twice the prescription volumes of Eli Lilly's competing oral drug at the same stage of launch, according to Citi.
The Danish drugmaker's tablet reached around 124,000 total prescriptions in its 15th week on the US market, in the week ending 17 April, representing 10% week-on-week growth, based on IQVIA prescription data.
That compares favourably with Zepbound, Lilly's injectable obesity treatment, at the equivalent point in its own launch, though Citi notes the IQVIA data does not fully capture direct-to-patient cash-pay channels, which may understate the true Wegovy pill volume.
The figures also represent the first meaningful read-across since Lilly launched Foundayo, its oral GLP-1 drug orforglipron, in the US on 9 April.
IQVIA recorded around 3,700 Foundayo prescriptions in the week ending 17 April, its first full week of data, comparing broadly with the roughly 3,100 prescriptions Wegovy pill generated in its own opening week.
Citi cautions that early prescription volumes for both drugs are likely to remain volatile, and says it is too early to draw firm conclusions about Foundayo's trajectory or its impact on Wegovy pill momentum.
The broader Wegovy franchise, spanning both injectable and oral formats, grew 8% week-on-week and has risen 55% since the pill launched, suggesting the tablet is adding incremental volume rather than simply cannibalising existing injectable sales.
Citi maintains a 'neutral' rating on Novo Nordisk's shares.