Chugai Pharmaceutical (4519): Foundayo (orforglipron) prescription trends (IQVIA), Week 11 (week of June 15)

研报英文原文证据摘录

Chugai Pharmaceutical (4519): Foundayo (orforglipron) prescription trends (IQVIA), Week 11 (week of June 15)

J P M O R G A N Asia Pacific Equity Research

26 June 2026

Chugai Pharmaceutical (4519) Overweight

4519.T, 4519 JP

Foundayo (orforglipron) prescription trends (IQVIA), Price (26 Jun 26):¥7,434

Week 11 (week of June 15) Price Target (Dec-26):¥11,000

On the 26th, IQVIA released Week 11 prescription data (week of June 15) for Japan Equity Research

Foundayo. IQVIA reported 20,594 prescriptions (-5% WoW). While the total

Biotechnology & Pharmaceuticals/

weekly prescription count was below that of the prior week, we believe this reflects Medical Technologies & Services

the impact of June 19 being a holiday (Juneteenth). On a per-business-day basis, AC Seiji Wakao, Ph.D.

however, the average number of prescriptions (Figure 3) was the highest to date,

(81-3) 6736-8612

suggesting that underlying demand momentum is accelerating further. We expect seiji.wakao@jpmorgan.com

additional acceleration as Medicare coverage begins in July. Yugo R. Kamimura, Ph.D.

(81-3) 6736-8635

Eli Lilly announced details of the Medicare GLP-1 Bridge program starting July yugo.kamimura@jpmorgan.com

1. Eligible patients will be able to access Foundayo for $50 per month, and Eli Lilly Naoko Saito

estimates that roughly 20 million Medicare patients could qualify. We will watch (81-3) 6736-8693

this as a measure that could support expanded prescriptions among older obese naoko.saito@jpmorgan.com

patients, a group that previously had limited access. JPMorgan Securities Japan Co., Ltd.

Figure 1: Foundayo and Wegovy Pill: Number of TRx (IQVIA) Figure 2: Foundayo: Number of TRx (LHS) and WoW growth (RHS)

Number of TRx Number of TRx

100,000 86,355 25,000 180%

21,648

90,000 82,062 19,879 20,594 160% 76,620