Novo Nordisk shares are rising after the launch of obesity pill Wegovy
A pharmacist checks out a box of Wegovy pills at a pharmacy in Provo, Utah, on Jan. 15, 2026.
George Frey | Bloomberg | Getty Images
Shares of Novo Nordisk rose more than 8% on Friday after early prescription data showed an encouraging start to the U.S. launch of the company’s new GLP-1 anti-obesity pill.
In a note Friday, analysts at TD Cowen called it a “solid start” for the first-ever weight-loss pill, but said, “One data point doesn’t make a trend.” They warned that they need more data to fully assess early demand for the Wegovy pill, which officially hit the market on Jan. 5 after receiving approval in late December.
Still, the early data bolsters the Danish drugmaker’s hopes of regaining more market share from its main rival. Eli Lillythis year in the booming obesity and diabetes drug market. Eli Lilly gained the largest market share in early 2025 and is just behind Novo Nordisk in the pill space as it prepares for the impending launch of its own oral obesity drug.
In a note Friday, Leerink Partners analyst David Risinger said about 3,100 prescriptions for the Wegovy pill were filled in the first week of launch, citing IQVIA data for the week ending Jan. 9. In the first week after the commercial launch of Eli Lilly’s popular obesity shot Zepbound, about 1,300 prescriptions were filled, and in the second week, about 8,000 were filled, he noted. This injection received US approval in late 2023.
Analysts at TD Cowen cited slightly different data released by Symphony via Bloomberg.
According to analysts, around 4,290 prescriptions were filled for Novo Nordisk’s pill in its first full week of launch, with the majority for the starting dose of the drug. They added that the data from their source or IQVIA likely does not include prescriptions through Novo Nordisk’s direct pharmacy or its telehealth partners.
Analysts say that compares to the roughly 1,900 prescriptions filled for Zepbound in its first full week on the market.
Assuming the Symphony data is accurate, the pill is “already outperforming its injectable counterparts at the same stage of its introduction,” TD Cowen analyst Michael Nedelcovych wrote in the note. A more direct comparison between the pill and the injections could be made early next week based on available data, although the numbers may not prove more useful for two to three quarters, he added.
Nedelcovych said he wanted to see the full picture on the direct-to-consumer channel, which holds “significant prospects” for the pill’s launch.
Demand could also shift once Eli Lilly’s pill, orforglipron, hits the market in the next few months, he added.
While 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 absorption. Eli Lilly’s pill is a small molecule drug and not a peptide, meaning these restrictions do not apply.
