US Biotechnology and Pharmaceuticals: GLP-1 TRx trends from the month and last week

We examined GLP-1 TRx trends over the past four weeks to assess y/y market changes. Collectively, TRx is +5.4% vs -6.8% prior as oral options broaden and reshape the market. Lilly's tirzepatide now holds +56.9% market share of total GLP-1 TRx, with 0.3% share over the four week period; compared to 49.5%/0.7% last year. Comparatively, Novo's semaglutide has 37.0% share remaining relatively flat (0.1% growth). This week's focus remains on recent 2Q reporting and Foundayo given recent approval, granted early but the script trends continue to build (47K; potential gap in telehealth and holiday weekend) after becoming available 4/9 and we look for further growth to develop the oral competitive market (Wegovy pill 161K). Oral market taking shape with Foundayo and Wegovy pill - oral Wegovy scripts now make up 34% of total Wegovy scripts (last week 35%; -1% w/w), suggesting preferences for oral formulations. W/w overall GLP-1 TRx were -0.4% w/w;