---
title: "继诺和诺德之后，礼来减肥口服药获欧盟背书：降价36%换来美国以外营收增80%"
description: "欧盟药品监管机构建议批准礼来的减肥药Foundayo，这是继诺和诺德的诺和盈（Wegovy）口服片之后第二款获此推荐的口服减肥药，欧洲由此成为双方正面竞争的首个市场。两家公司都将在三周内公布三季度业绩，而财报显示，礼来带来的是一台以价换量的机器。"
publisher: "The Inference"
section: "Health"
published: 2026-10-16T17:28:46.842Z
modified: 2026-10-16T17:28:46.842Z
canonical: https://theinference.org/article/lilly-s-obesity-pill-wins-eu-backing-after-novo-s-its-ex-us-sales-rose-80-on-prices-down-36/zh-CN
language: zh-CN
keywords: "Eli Lilly, Novo Nordisk, Obesity, GLP-1"
---

# 继诺和诺德之后，礼来减肥口服药获欧盟背书：降价36%换来美国以外营收增80%

> 欧盟药品监管机构建议批准礼来的减肥药Foundayo，这是继诺和诺德的诺和盈（Wegovy）口服片之后第二款获此推荐的口服减肥药，欧洲由此成为双方正面竞争的首个市场。两家公司都将在三周内公布三季度业绩，而财报显示，礼来带来的是一台以价换量的机器。

欧盟药品监管机构建议批准[礼来](https://theinference.org/markets/companies/eli-lilly)[用于体重管理和2型糖尿病的每日一次口服药Foundayo](https://www.ksl.com/article/51637170/eli-lillys-weight-loss-pill-wins-eu-drug-regulators-backing)，这是继[诺和诺德](https://theinference.org/markets/companies/novo-nordisk)诺和盈（Wegovy）口服片之后第二款获得该机构支持的口服减肥药[1]。拥有最终决定权的欧盟委员会通常会在数周内采纳下属委员会的建议[2]。自[7月15日获批](https://www.finanznachrichten.de/nachrichten-2026-07/69038534-novo-nordisk-a-s-novo-nordisk-receives-european-commission-approval-of-wegovy-pill-as-first-oral-glp-1-for-weight-management-in-the-eu-single-ready-399.htm)以来，诺和诺德的口服药一直独占欧洲市场；礼来的Foundayo则已于4月在美国获批，上季度录得首笔9800万美元的销售额[3][4][5]。两家公司都在追逐一个预计到2030年年销售额突破1000亿美元的市场[1]。

## 礼来以价换量

[二季度财报](https://dataporium.tech/articles/eli-lilly-novo-nordisk-q2-2026-weight-loss-drugs)揭示了礼来带来的武器。营收增长48%至230亿美元：销量增长60%，实现价格下降13%[4]。美国以外市场营收增长80%至86亿美元，同期价格下降36%，[正是同样的以价换量，曾让糖尿病注射剂穆峰达（Mounjaro）实现91%的增长](https://theinference.org/article/lilly-says-india-already-ran-the-glp-1-price-war-and-mounjaro-grew-anyway)[4]。诺和诺德的季度表现则截然相反：销售额按固定汇率计算增长3%，调整后增长7%，美国业务下滑2%，全年业绩指引甚至允许调整后销售下滑至多6%[4]。

*Chart: **八个季度：从近乎并驾齐驱到110亿美元的季度差距** 柱状图：礼来与诺和诺德2024年三季度至2026年二季度的季度营收（以美元计），显示礼来从与对手近乎并驾齐驱，一路拉开到约110亿美元的季度差距。*

*以美元计的季度营收，数据来自两家公司提交给美国证券交易委员会（SEC）的文件。诺和诺德以丹麦克朗披露业绩，换算为美元的数字受汇率波动影响；公司公布的2026年二季度销售按固定汇率计算增长3%。 [7][8]*

## 诺和诺德的领先实实在在，且已体现在价格里

诺和盈口服片目前领先：上半年全球销售额约8.5亿美元，Foundayo为9800万美元；[上市以来在美国累计开出超过500万张处方](https://theinference.org/article/novo-s-pill-keeps-winning-switchers-while-the-payers-behind-its-volume-math-walk-out)，并在美国新开出的口服处方中占比超过80% [2][4]。在糖尿病领域，Foundayo还要对阵诺和诺德销售额30亿美元的口服药诺和忻（Rybelsus），而且一日之内随时可服用，诺和诺德的口服片则须空腹服用 [2]。[礼来主导并于9月29日公布的一项间接比较](https://www.marketscreener.com/news/eli-lilly-and-company-announces-foundayo-orforglipron-17-2-mg-results-showing-greater-weight-loss-ce785addda89f620)显示，17.2毫克片剂在减重和降血糖两项指标上均胜过25毫克口服司美格鲁肽 [9]。诺和诺德在美上市股票今年以来下跌25.5%，礼来同期上涨7.7%，行情已然倒向礼来一边 [4]。至于两款口服片在欧洲的处方数据，目前尚无任何来源披露。

## 三周之内，两份财报相继出炉

[礼来将于10月29日发布三季度业绩](https://investor.lilly.com/news-releases/news-release-details/lilly-confirms-date-and-conference-call-third-quarter-2026) [6]；诺和诺德紧随其后，于11月4日放榜 [4]。Foundayo上市后的第二个销售季度，以及礼来在美国以外市场的实现价格，将检验注射剂的故事是否会在欧洲重演。诺和诺德一个季度的先发优势，即将迎面撞上这家在美国以外市场降价36%、营收仍增长80%的公司 [4]。

## Takeaway

欧洲由此成为两款口服GLP-1药物同台竞技的首个市场：自7月15日起，诺和诺德的诺和盈口服片一直独享欧洲，而礼来携二季度财报赴局——美国以外营收增长80%，同期价格下降36%。两家公司将在三周内先后发布三季度业绩。

## Sources

1. [KSL News, Eli Lilly's weight-loss pill wins EU drug regulator's backing, 16 October 2026](https://www.ksl.com/article/51637170/eli-lillys-weight-loss-pill-wins-eu-drug-regulators-backing)
2. [pharmaphorum, CHMP backs Lilly's oral GLP-1 Foundayo for EU approval, 16 October 2026](https://pharmaphorum.com/news/chmp-backs-lillys-oral-glp-1-foundayo-eu-approval)
3. [Novo Nordisk via GlobeNewswire/Finanznachrichten, Novo Nordisk receives European Commission approval of Wegovy pill as first oral GLP-1 for weight management in the EU, 15 July 2026](https://www.finanznachrichten.de/nachrichten-2026-07/69038534-novo-nordisk-a-s-novo-nordisk-receives-european-commission-approval-of-wegovy-pill-as-first-oral-glp-1-for-weight-management-in-the-eu-single-ready-399.htm)
4. [DataPorium, Lilly vs Novo in 2026: Weight-Loss Drug Sales After Q2, 16 October 2026 (summarising Lilly Form 8-K of 5 August 2026 and Novo Nordisk Form 6-K of 4 August 2026)](https://dataporium.tech/articles/eli-lilly-novo-nordisk-q2-2026-weight-loss-drugs)
5. [Forbes, GLP-1s Took Eli Lilly To $1 Trillion. CEO Dave Ricks Is Betting Billions He Can Do It Again, October 2026](https://forbesliberia.com/article?slug=glp-1s-took-eli-lilly-to-1-trillion-ceo-dave-ricks-is-betting-billions-he-can-do-it-again)
6. [Eli Lilly investor relations, Lilly confirms date and conference call for third-quarter 2026 financial results announcement, 15 October 2026](https://investor.lilly.com/news-releases/news-release-details/lilly-confirms-date-and-conference-call-third-quarter-2026)
7. [Eli Lilly quarterly figures from its SEC filings, retrieved 16 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000059478)
8. [Novo Nordisk quarterly figures from its SEC filings, retrieved 16 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000353278)
9. [Eli Lilly via MarketScreener/S&P Capital IQ, Foundayo (orforglipron) 17.2 mg results showing greater weight loss and A1C reduction than oral semaglutide 25 mg among adults with type 2 diabetes, 29 September 2026](https://www.marketscreener.com/news/eli-lilly-and-company-announces-foundayo-orforglipron-17-2-mg-results-showing-greater-weight-loss-ce785addda89f620)


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继诺和诺德之后，礼来减肥口服药获欧盟背书：降价36%换来美国以外营收增80% — The Inference. Canonical: https://theinference.org/article/lilly-s-obesity-pill-wins-eu-backing-after-novo-s-its-ex-us-sales-rose-80-on-prices-down-36/zh-CN