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Citi Flags Slowing New-to-Brand GLP-1 Prescriptions at Novo Nordisk

Novo Nordisk logoNovo Nordisk
Sig2.24Sen-3.60Env0.00Soc-1.10Gov0.00

Citi’s IQVIA tracker using retail prescription data through 21 August 2026 shows new-to-brand GLP-1 trends easing across Novo Nordisk’s key obesity drugs, with the exception of oral Wegovy. Rybelsus total prescriptions fell significantly across prescriber groups, while subcutaneous Wegovy posted rolling total and new prescription growth of 12% and 16%. Citi reiterated its sell rating, citing weaker obesity demand.

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