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Lilly's Foundayo Lags Wegovy in Launch
24 Apr
Summary
- Foundayo saw 3,707 prescriptions in its second week.
- Wegovy prescriptions reached 18,410 in its second week.
- Lilly's shares dropped 1.5% following prescription data.
Eli Lilly's newly introduced oral weight loss medication, Foundayo, recorded 3,707 prescriptions in the United States during its second week post-launch. This initial prescription volume follows 1,390 prescriptions in its debut week. Investors are keenly observing Foundayo's performance as a key indicator of Lilly's ability to compete with Danish competitor Novo Nordisk, which currently holds an advantage in the oral obesity drug market.
Novo Nordisk's Wegovy pill, available since January, achieved 18,410 prescriptions in its second week, a significant increase from 3,071 in its first. Analysts noted that Foundayo's ramp-up appears slower compared to Wegovy, attributing this to Wegovy's established market presence and earlier entry. Lilly's shares saw a 1.5% decrease in pre-market trading, while Novo Nordisk's U.S.-listed shares rose by 2%.
Foundayo received U.S. approval on April 1, with prescriptions being accepted immediately via LillyDirect, and shipping commencing on April 6. Broader availability across U.S. retail pharmacies and telehealth providers began on April 9. Lilly had previously advised that early weekly figures might not capture the complete scope of pharmacy partners and would be best interpreted over time.
