Novo Nordisk’s Wegovy pill received FDA approval for obesity treatment, set to launch in early January. Shares surged 9% on Dec. 23. Novo aims to regain market share lost to Eli Lilly in the GLP-1 market. The Wegovy pill showed promising weight loss results in a study compared to Lilly’s orforglipron.

Direct-to-patient sales of Wegovy are expected to start at $150 per month, with subsequent doses around $350. Novo plans to launch high-dose injectable Wegovy in the US and EU in early 2026. Recent data on Lilly’s triple agonist retatrutide and orforglipron maintenance may impact forecasts.

Maintaining fair value estimates of $66 for Novo and $770 for Lilly post-Wegovy approval. Novo’s long-term innovation is seen as undervalued. Approval of high-dose injectable Wegovy and recent filings should help Novo compete with Lilly. Upcoming data releases from Lilly and potential competitors could influence forecasts.

Read more at Morningstar: Novo and Lilly: FDA Approval of Wegovy Pill Launches New Obesity Battle