By Sriparna Roy
April 24 (Reuters) – Eli Lilly’s newly launched oral weight loss drug was prescribed 3,707 times in the U.S. in the second week after its launch earlier this month, according to analysts citing IQVIA data.
The pill, branded as Foundayo, had 1,390 prescriptions in its debut week.
Investors are closely watching the rollout as a key test of whether Lilly can gain share from Danish rival Novo Nordisk, which had a first-mover advantage in the oral obesity drug market.
Novo’s Wegovy pill, which has been on the market since January, had 18,410 prescriptions in its second week, up from 3,071 in its first week.
“While we believe comparisons early into launch should be considered immaterial, Foundayo’s uptake this week is likely to be received negatively,” said RBC Capital Markets analyst Trung Huynh.
Shares of the drugmaker were trading 1.5% lower before the bell, while U.S.-listed Novo shares were 2% higher.
This represents a somewhat slower ramp compared to oral Wegovy, said J.P. Morgan analyst Chris Schott, adding it is not surprising given Wegovy’s advantages in time to market and brand recognition.
Foundayo was approved in the U.S. on April 1, with prescriptions accepted immediately on LillyDirect, while shipping started on April 6. Broad availability through U.S. retail pharmacies and telehealth providers began on April 9.
Lilly has previously cautioned that the early weekly figures would not be fully comprehensive and may not capture the full breadth of pharmacy partners, and would be “best interpreted over time rather than as a complete count”.
(Reporting by Sriparna Roy in Bengaluru; Editing by Tasim Zahid)
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