Key Takeaways:
Novo Nordisk's oral Wegovy pill is generating prescriptions at three times the rate of Eli Lilly's Zepbound at the equivalent launch stage, pharmacy data show.
"This new dose was developed as a tailored option for people in need of additional support to achieve meaningful, sustained weight loss," Ludovic Helfgot, head of product and portfolio strategy at Novo Nordisk, said.
The headline figure masks a more complicated competitive reality. While oral Wegovy's early uptake has outpaced Zepbound's launch trajectory, Eli Lilly's injectable GLP-1/GIP agonist has been gaining momentum in the broader obesity market. Zepbound generated $2.31 billion in global sales in the first quarter, growing more than fourfold from a year earlier, while Wegovy's injectable version brought in $2.64 billion — a 13% decline from the same period in 2024.
Novo Nordisk has moved to strengthen its position on multiple fronts. The company filed a new 7.2-milligram high-dose version of injectable Wegovy with the European Medicines Agency, supported by data from the phase 3 STEP UP trial showing 20.7% average weight loss at 72 weeks — comparable to the 20.9% reduction achieved by Zepbound in its pivotal trial. About a third of patients on the high dose lost at least 25% of their body weight, and the safety profile was consistent with the current 2.4-milligram formulation.
The Danish drugmaker's next-generation candidate CagriSema, a combination of cagrilintide and semaglutide, has delivered disappointing results. The REDEFINE 2 trial showed 15.7% weight loss at 68 weeks among patients who adhered to treatment, well below the 25% reduction Novo had targeted. A prior trial, REDEFINE 1, achieved 22.7% weight loss. The company now expects to file CagriSema for approval in the first quarter of 2026, later than previously planned.
The GLP-1 market, projected to exceed $100 billion annually by the end of the decade, remains a two-player contest between Novo Nordisk and Eli Lilly. Lilly is developing its own oral GLP-1 candidate, orforglipron, which posted positive phase 3 results in April. The oral Wegovy launch data gives Novo an early lead in the oral segment, but the durability of that advantage will depend on how quickly Lilly can bring its oral candidate to market and whether CagriSema's regulatory filing yields a competitive product. Investors will watch for updated prescription data in the coming quarters and for Lilly's next earnings report for orforglipron development timelines.
This article is for informational purposes only and does not constitute investment advice.
