Key Takeaways
- Eli Lilly shares dropped approximately 2% following underwhelming weekly prescription figures for its GLP-1 drug lineup
- Foundayo generated 3,707 prescriptions during week two, climbing from 1,390 during its initial week
- For context, Novo Nordisk’s oral Wegovy achieved 18,410 prescriptions in its comparable second week
- Total prescriptions for Mounjaro, Zepbound, and Foundayo collectively decreased 0.3% from the previous week
- The pharmaceutical giant continues holding approximately 59% of weekly new prescription share in the GLP-1 market
Shares of Eli Lilly retreated approximately 2% Thursday following the release of weekly prescription data for its GLP-1 drug lineup — with Foundayo’s performance falling short of investor expectations.
The company’s newly launched oral weight management medication, Foundayo, recorded 3,707 total prescriptions during its second week of availability. While this represents growth from the 1,390 prescriptions written during week one, the figure pales in comparison to Novo Nordisk’s oral Wegovy, which secured 18,410 prescriptions during its second week following its January launch.
Trung Huynh, an analyst with RBC Capital Markets, offered a candid assessment of the situation. “While we believe comparisons early into launch should be considered immaterial, Foundayo’s uptake this week is likely to be received negatively,” he noted.
J.P. Morgan analyst Chris Schott acknowledged the slower trajectory compared to Wegovy but suggested the outcome shouldn’t be shocking. By the time Lilly’s oral pill entered the market, Wegovy had already established significant momentum and brand awareness.
Following FDA approval on April 1, 2026, Foundayo became available for prescription through LillyDirect nearly immediately, with patient shipments beginning April 6. Wider distribution through traditional retail pharmacies and telehealth platforms commenced April 9.
The company has cautioned stakeholders against drawing premature conclusions from initial weekly data. Lilly emphasizes that early figures may not reflect complete pharmacy partner coverage and should be “best interpreted over time rather than as a complete count.”
Injectable Portfolio Demonstrates Resilience
Lilly’s established injectable treatments showed more consistent performance. Mounjaro reached 758,400 total prescriptions during the week ending April 17, climbing from 749,500 the previous week. New Mounjaro prescriptions totaled 367,900, compared to 361,700 in the prior period.
Zepbound experienced modest softness. Total prescriptions declined to 615,300 from 632,500, although new prescriptions inched upward to 350,600 from 346,400.
Across all three products — Mounjaro, Zepbound, and Foundayo — Lilly’s combined prescription count reached 1,377,400, representing a marginal 0.3% decline from the previous week’s 1,381,000.
Competitive Position Remains Intact at 59%
Despite the sequential weekly decline, Lilly preserved its competitive standing within the expanding GLP-1 marketplace. The company retained approximately 59% of weekly new prescription market share, matching the prior week’s performance.
The broader GLP-1 category itself continues expanding, demonstrating approximately 32% growth on a year-over-year basis.
Morgan Stanley analysts expressed greater optimism regarding the injectable segment. “We see ~6% upside to ’26 M+Z ests,” the firm stated, referencing 2026 projections for Mounjaro and Zepbound.
The investment bank continues monitoring both medications as critical product franchises for Lilly, particularly regarding their influence on overall category expansion and competitive positioning moving forward.
While Lilly shares retreated roughly 2%, Novo Nordisk’s American depositary receipts traded approximately 2% higher on the same prescription data release — a divergent market reaction highlighting how investors interpreted the Foundayo-Wegovy performance gap.
Lilly’s injectable medications remain the foundation of its GLP-1 revenue stream, with Mounjaro and Zepbound data continuing to reflect consistent sequential growth through the April 17 reporting period.
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