Quick Take: LLY - Foundayo Daily - still awaiting that TV ad uptick

研报英文原文证据摘录

Quick Take: LLY - Foundayo Daily - still awaiting that TV ad uptick

17 June 2026

Courtney Breen

+1 917 344 8407

US Biopharmaceuticals courtney.breen@bernsteinsg.com

Eli Lilly & Co Woody Polglase

+1 917 344 8314

Rating woody.polglase@bernsteinsg.com

Outperform Louisa Qiu

Price Target +1 917 344 8495

louisa.qiu@bernsteinsg.com

LLY 1,300.00 USD Specialist Sales

Christian Moore

+1 917 344 8555

christian.moore@bernsteinsg.com

Despite the limitations and nuances involved in interpreting daily IQVIA data at the start of a

Close Date 16 Jun 2026

launch, we think it is useful for investors to at least know what is out there. We know this is a

LLY Close Price (USD) 1,122.50

fraught exercise; however, this note aims to help contextualize what the early daily data for

Price Target (USD) 1,300.00

Foundayo might mean for Lilly vs Novo (covered by Justin Smith) in the oral obesity debate.

Upside/(Downside) 16%

Since our last update on Mon June 15th, 2 days of scripts for Foundayo showed 256, 52-Week Range 1,182.73/623.78

SPX 7,511.35

603 for June 14th and 15th, respectively (Exhibit 5). In their first 64 days, cumulative FYE Dec

(unadjusted) daily scripts are at ~19.4k for Foundayo, compared to ~322k achieved by

Div Yield 0.6%

Wegovy Pill. Based on conversion rates between daily and weekly data, and IQVIA capture

Market Cap (USD) (B) 1,049.86

rates, in their first 64 days, adjusted cumulative daily scripts would be ~188k for Foundayo,

EV (USD) (B) 1,087.95

compared to ~646k achieved by Wegovy Pill (~29%). This is updated for recent commentary

from Novo that Wegovy Pill has surpassed 3m prescriptions. For a comparison of the daily Performance YTD 1M 6M 12M

data to-date, see Exhibit 5. In short, the daily data for Foundayo looks materially below, and Absolute (%) 3.7 10.9 7.0 40.9