Eli Lilly and Company’s (LLY) Foundayo Gets Prescribed 3,707 Times in the US in Second Week of Launch, Reuters Reports

Eli Lilly and Company (NYSE:LLY) is one of the best low volatility stocks to invest in right now. On April 24, Reuters reported that, according to analysts citing IQVIA data, Eli Lilly and Company’s (NYSE:LLY) newly launched oral weight loss drug, branded as Foundayo, was prescribed 3,707 times in the United States in the second week following its launch earlier in the month. The pill had 1,390 prescriptions in its first week of launch. Reuters provided additional perspective in the context of Eli Lilly and Company’s (NYSE:LLY) rival Novo ​Nordisk’s Wegovy pill. It reported that Wegovy has been on the market since January and had 3,071 prescriptions in its first week, followed by 18,410 prescriptions in the second week.

RBC Capital Markets analyst Trung Huynh stated that although they believe comparisons made early into the launch “should be considered immaterial, Foundayo’s uptake this week is likely to be ​received negatively”. Reuters also reported that J.P. Morgan analyst Chris Schott stated that the landscape represents a relatively slower ramp compared to oral Wegovy, which is not surprising, given the pill’s advantages in time to market and brand ​recognition.

Eli Lilly and Company (NYSE:LLY) develops, manufactures, discovers, and sells pharmaceutical products. These products span oncology, diabetes, immunology, neuroscience, and other therapies.

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