Eli Lilly's Foundayo (Orforglipron) Secures FDA Approval and Launches into Fierce Oral GLP-1 Battle
Following its FDA approval on April 1, 2026, Eli Lilly and Company's (NYSE: LLY) once-daily oral non-peptide GLP-1 receptor agonist Foundayo (orforglipron) officially launched in the U.S. on April 9, 2026, initiating a highly anticipated commercial battle against Novo Nordisk’s (NYSE: NVO) oral Wegovy pill.
In its first seven weeks on the U.S. market, Foundayo has experienced early growing pains, tracking below the initial launch trajectory of Novo's oral Wegovy. According to IQVIA prescription data cited by Citi and Jefferies, for the week ending May 22, 2026, Foundayo generated approximately 11,700 to 16,000 total weekly prescriptions, compared to roughly 146,000 weekly prescriptions for Novo's oral Wegovy. Novo Nordisk reported that its oral Wegovy pill generated 2.26 billion Danish kroner (around $355 million) in its first quarter on the U.S. market.
However, analysts emphasize that Foundayo's initial numbers may be skewed due to slower commercial reimbursement and a high proportion of telehealth referrals. Lilly reported that 45% of early Foundayo prescriptions are coming through its direct-to-patient portal LillyDirect, 35% from telehealth providers, and 20% from traditional retail. Jefferies analysts remain confident that a blockbuster first year is "doable," forecasting $145 million in Q2 sales and $1.6 billion for the full year of 2026.
CVS Caremark Restores Coverage
Foundayo has received a massive commercial tailwind. On May 28, 2026, CVS Caremark (the largest U.S. pharmacy benefit manager) announced that effective June 1, 2026, it would remove its "new-to-market block" on Foundayo for plans that approve coverage. Furthermore, effective October 1, 2026, CVS Caremark will reinstate Eli Lilly's injectable weight-loss drug Zepbound (tirzepatide) to its preferred-tier commercial formularies, erasing what had been a major commercial edge for Novo Nordisk's Wegovy.
Currently, Eli Lilly maintains a valuation of $985.37 billion with TTM revenue of $72.25 billion (+55.5% YoY), while Novo Nordisk holds a valuation of $201.95 billion with TTM revenue of $327.80 billion (+24.0% YoY).
Quotes
From the Fierce Pharma Oral GLP-1 Tracker:
"With the recent launches of Novo Nordisk’s Wegovy pill and Eli Lilly’s Foundayo, the obesity market has started to shift toward oral GLP-1 drugs. While Novo leverages its first-mover advantage with the familiar Wegovy brand, Lilly is betting the freedom from the strict fasting and water requirements can give Foundayo an edge."
From Pharmaceutical Commerce on the CVS Caremark decision:
"CVS Caremark has announced that it will add Zepbound (tirzepatide) back to its most common commercial formularies as an additional preferred option, effective Oct. 1, 2026, and will remove the new-to-market block on Foundayo (orforglipron), effective June 1, 2026, for plans that have approved coverage of the drug."