Over 300 billion RMB in Half a Year! The GLP-1 'Dual Titans' Shift Roles Between Offense and Defense—Oral Weight-Loss Drugs Enter the Chinese Battlefield

【Answer 1】 02. In the oral weight-loss drug arena, Novo Nordisk holds an early-mover advantage in the U.S., while Eli Lilly is breaking through in the Chinese market. In the field of oral GLP-1 weight-loss drugs, Novo Nordisk has secured a leading position thanks to its first-to-market advantage; although Eli Lilly is still in the early stages of catching up, it is gradually demonstrating growth momentum. Novo Nordisk’s oral Wegovy launched officially in the U.S. on January 5, 2026. Eli Lilly’s competing oral weight-loss drug, Foundayo, received FDA approval and entered the U.S. market only on April 1, 2026—three months later. This time gap enabled Novo Nordisk to complete market education and accumulate patients ahead of competitors, resulting in significantly faster post-launch growth—a clear demonstration of its first-mover advantage. This trend aligns fully with prescription data from IQVIA. As of July 31, Novo Nordisk’s oral Wegovy remains far ahead; according to Citigroup data, its total prescription volume set a new record at approximately 171,700 prescriptions—up 1.1% week-on-week from the previous all-time high. *** IQVIA data may omit prescriptions issued via online telemedicine channels. From a financial perspective, in Q2 2026, Novo Nordisk’s oral Wegovy generated sales of DKK 3.22 billion (approx. USD 497 million); Eli Lilly’s Foundayo achieved USD 98 million in同期 sales—substantially trailing its rival. In terms of growth trajectory, oral Wegovy’s Q1 2026 sales reached DKK 2.26 billion (approx. USD 354 million), and its robust growth continued into Q2, making it the core growth engine for the company’s obesity business. On a constant-exchange-rate (CER) basis, it drove a 16% year-on-year increase in the company’s overall obesity treatment sales. Analysts assessed Foundayo’s overall performance as “below expectations,” and it has yet to mount a meaningful challenge to Novo Nordisk’s scale. Regarding patient coverage and prescriptions, Novo Nordisk’s oral Wegovy has reached over 5 million patients since launch; for the week ending July 17, weekly prescription volume surpassed 265,000—indicating rapid market penetration. The product is currently launched primarily in the self-pay market, with over 90% of prescriptions coming from self-paying patients. Its self-pay price starts at USD 149 per month for the 1.5 mg dose, rising to USD 299 per month for the highest-dose version. Novo Nordisk believes this pricing hits the “sweet spot.” Eli Lilly stated that Foundayo’s U.S. growth has reached an “inflection point”: total prescription volume and medication penetration are increasing week-on-week. Current usage volume has doubled compared to one month ago, and newly initiated patients now account for nearly one-quarter of all prescriptions—suggesting that subsequent growth momentum is steadily building. Beyond the U.S., both companies have initiated global rollout plans for their oral GLP-1 drugs. Novo Nordisk launched oral Wegovy in the UAE and the UK in June and July 2026, respectively—both markets reporting positive early signals. The company’s CFO expressed “great satisfaction” with market penetration across these three markets. Further European launches will proceed in phases, beginning with Germany. Eli Lilly achieved a breakthrough in the UAE market, where Foundayo generated USD 31 million in sales. Leerink Partners analysts view this performance as a positive signal of Foundayo’s global market potential.

Tides Express | Novo Nordisk Releases Q1 2026 Financial Results, Driven by Semaglutide Portfolio Growth

【Answer 2】｜ Edited by Zhongtai Biotech Content Team On May 6, 2026, Novo Nordisk announced its Q1 2026 financial results, reporting an adjusted operating profit of DKK 32.858 billion. Financial Performance Highlights: ・ In Q1 2026, reported sales grew 32% year-on-year on a constant-exchange-rate (CER) basis, aided positively by the reversal of provisions related to the U.S. 340B Drug Pricing Program. ・ Excluding the impact of the reversal of U.S. 340B-related provisions, adjusted sales declined 4% year-on-year on a CER basis—primarily driven by price reductions—but were partially offset by volume growth across GLP-1 products in all regions. Adjusted obesity treatment sales rose 22% year-on-year on a CER basis. ・ In Q1 2026, adjusted sales for the U.S. Operations Division declined 11% year-on-year on a CER basis—mainly due to price reductions—though volume growth across the Wegovy® (marketed in China as NovoWeight®) portfolio partially offset this impact. ・ In Q1 2026, international operations sales grew 6% year-on-year on a CER basis, driven primarily by increased volumes. ・ In Q1 2026, adjusted operating profit declined 6% year-on-year on a CER basis; however, reported operating profit rose 65% year-on-year on a CER basis—driven mainly by the reversal of U.S. 340B-related provisions. Business Highlights: ・ Wegovy® tablets launched in the U.S. on January 5, 2026. For the week ending April 17, weekly prescription volume exceeded 200,000. Combined with approximately 1.3 million prescriptions in Q1 2026—and over 2 million prescriptions cumulatively since launch—the product represents the strongest-ever GLP-1 launch in U.S. history. Wegovy® tablet sales in Q1 2026 totaled DKK 2.256 billion, including channel stocking effects prior to launch (e.g., shipments to wholesalers and telemedicine partners). ・ Subject to regulatory approvals, Wegovy® tablets are expected to launch outside the U.S. in the second half of 2026.

Kronos Worldwide, Inc. Reports First Quarter 2026 Results

Q: Tides Express | Novo Nordisk Releases Q1 2026 Financial Results, Driven by Semaglutide Portfolio Growth

【Answer 2】 ｜ Edited by Zhongtai Biotech Content Team On May 6, 2026, Novo Nordisk announced its Q1 2026 financial results, reporting an adjusted operating profit of DKK 32.858 billion. Financial Performance Highlights: ・ In Q1 2026, reported sales grew 32% year-on-year on a constant-exchange-rate (CER) basis, aided positively by the reversal of provisions related to the U.S. 340B Drug Pricing Program. ・ Excluding the impact of the reversal of U.S. 340B-related provisions, adjusted sales declined 4% year-on-year on a CER basis—primarily driven by price reductions—but were partially offset by volume growth across GLP-1 products in all regions. Adjusted obesity treatment sales rose 22% year-on-year on a CER basis. ・ In Q1 2026, adjusted sales for the U.S. Operations Division declined 11% year-on-year on a CER basis—mainly due to price reductions—though volume growth across the Wegovy® (marketed in China as NovoWeight®) portfolio partially offset this impact. ・ In Q1 2026, international operations sales grew 6% year-on-year on a CER basis, driven primarily by increased volumes. ・ In Q1 2026, adjusted operating profit declined 6% year-on-year on a CER basis; however, reported operating profit rose 65% year-on-year on a CER basis—driven mainly by the reversal of U.S. 340B-related provisions. Business Highlights: ・ Wegovy® tablets launched in the U.S. on January 5, 2026. For the week ending April 17, weekly prescription volume exceeded 200,000. Combined with approximately 1.3 million prescriptions in Q1 2026—and over 2 million prescriptions cumulatively since launch—the product represents the strongest-ever GLP-1 launch in U.S. history. Wegovy® tablet sales in Q1 2026 totaled DKK 2.256 billion, including channel stocking effects prior to launch (e.g., shipments to wholesalers and telemedicine partners). ・ Subject to regulatory approvals, Wegovy® tablets are expected to launch outside the U.S. in the second half of 2026.

May 6, 2026

Kronos Worldwide reported a Q1 2026 net loss of $4.8 million due to lower TiO2 prices and volumes, despite a 4% increase in net sales to $509.8 million.

GlobeNewswire

Kronos Worldwide, Inc. Reports First Quarter 2026 Results

The Globe and Mail

2026-04-14

Kronos Worldwide, Inc. Announces Expected First Quarter 2026 Earnings Release Date

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Kronos sets May 6 release for first-quarter results after close

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Kronos Worldwide Reports Q4 2025 Net Loss of $82.8 Million

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Kronos Worldwide Inc Expected to Post Loss of 22 Cents a Share - Earnings Preview