What is the current status of Novo Nordisk's new oral Wegovy pill in terms of U.S. prescription volume and pricing challenges?

Prescriptions for Novo Nordisk's new oral Wegovy pill reached about 721,000 in the U.S. in the first quarter, exceeding expectations, but approximately 450,000 were for the cheapest 1.5 mg starter dose priced at $149 a month; BMO Capital Markets estimates first-quarter pill revenue could be about 12% below the analyst consensus of roughly $1 billion, reflecting concerns that strong prescription volume may mask softer revenue due to patients staying on lower-cost, lower-efficacy doses longer than anticipated.

How has Eli Lilly's entry into the oral obesity drug market affected Novo Nordisk's competitive position and near-term outlook?

Eli Lilly’s regulatory approval of its rival oral obesity pill Foundayo in early April ended Novo Nordisk’s brief period as the sole provider of an oral obesity drug in the U.S., setting up a direct head-to-head competition; this intensifies pricing pressure and adds uncertainty to Novo’s ability to regain market share amid falling U.S. prices, rising competition, and earlier setbacks including disappointing trials for its next-generation obesity drug, leadership changes, and a share price decline that erased over $400 billion from its market value since its 2024 peak.

Novo Nordisk's Weight-Loss Pill Boom Faces Price War Test

May 5, 2026

Novo Nordisk reports strong early demand for its new oral weight-loss pill despite intensifying competition from Eli Lilly. Investors await Q1 earnings to determine if volume growth can offset rising price wars and market share pressures.

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