TLDR
- Novo Nordisk’s oral Wegovy generated over 3,000 prescriptions in its first four days on the market starting January 5, 2026
- The Danish drugmaker’s stock climbed 6.5% following the early sales data for the first oral weight loss pill
- Eli Lilly leads the weight loss market with Zepbound injections and expects FDA approval for its oral pill by April 2026
- Analysts project Novo’s oral Wegovy could reach $1 billion in sales this year if it maintains market position
- Both pharmaceutical companies are targeting cash-paying consumers through pharmacies and telehealth platforms
Novo Nordisk reported strong early performance for its oral Wegovy weight loss pill. The medication generated 3,071 retail prescriptions during its first four days on the U.S. market after launching January 5, 2026.
The prescription data comes from IQVIA, a healthcare data analytics company. These figures only include retail pharmacy prescriptions and exclude online pharmacies like Novo’s NovoCare Pharmacy.
Novo Nordisk shares jumped 6.5% following the announcement. The stock reached its highest point since September 2025. The company had faced declining share prices in 2025 due to profit warnings and slower growth.
First Oral Weight Loss Medication Enters Market
The oral Wegovy pill represents the first pill-form weight loss medication available to consumers. Patients previously only had access to injectable versions of weight loss drugs.
Novo is distributing the pill through major retail pharmacies CVS and Costco. The company also partnered with telehealth providers Ro, LifeMD, WeightWatchers, and GoodRx for direct-to-consumer sales.
Zach Reitano, CEO of Ro, confirmed early signs showing the pill attracts both new patients and current users of other GLP-1 medications. The company is focusing on the U.S. market before international expansion to prevent supply shortages.
Berenberg analysts estimate the oral Wegovy could generate $1 billion in revenue during 2026. This projection assumes Novo can maintain its advantage before competitors enter the market.
Eli Lilly Competition Looms
Eli Lilly currently dominates the weight loss injection market with Zepbound. The medication surpassed Wegovy in quarterly sales after receiving FDA approval in late 2023.
Clinical trials showed Zepbound delivered better weight loss results than Wegovy in direct comparisons. Eli Lilly holds a market capitalization of $982 billion compared to Novo Nordisk’s $210 billion.
The FDA will decide on Lilly’s oral weight loss pill by April 2026. This approval would end Novo’s exclusive position in the oral weight loss medication space.
UBS analysts stated that 400,000 first-quarter prescriptions would match Lilly’s Zepbound launch performance. That threshold would represent stronger uptake than the original Wegovy injection launch from 2021.
Cash-Pay Model and Market Strategy
Both companies are shifting toward direct consumer sales outside traditional insurance coverage. This approach differs from standard pharmaceutical business models that rely on health insurance reimbursement.
Barclays analysts warned that price reductions and changing state insurance policies could pressure Novo’s sales growth. The company needs to balance competitive pricing with profitability.
Eli Lilly is also developing orforglipron as its oral weight loss option. The company is testing retatrutide, which showed 28.7% average weight loss after 68 weeks in clinical trials.
Lilly maintains a more diverse product lineup beyond weight loss medications. The company sells cancer treatment Verzenio and psoriasis medication Taltz, each generating over $1 billion annually.
Novo recently submitted an FDA application for CagriSema, another weight loss therapy. The company continues expanding its weight loss treatment pipeline while defending market share against Lilly.
Analysts and investors plan to monitor prescription data over the coming weeks. The first quarter results will provide clearer insight into Novo’s competitive position before Lilly’s oral drug potentially reaches the market.
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