Evercore spots buying opportunity in West Pharma amid strong Oral Wegovy prescription data
Brokerage Evercore ISI says West Pharma's shares WST.N are down about 15% since Novo Nordisk launched oral Wegovy on Jan 5, because investors are worried oral GLP‑1 pills could reduce demand for injectable GLP‑1 drugs, which matter for WST's growth
Evercore argues the recent selloff creates a good long-term buying opportunity, mainly because WST's core business outside GLP‑1s is improving
WST's most notable customers include pharma majors Eli Lilly LLY.N and Novo Nordisk NOVOb.CO who incorporate West's components into their blockbuster injectable treatments, particularly in weight-loss and diabetes therapies
Brokerage believes early prescription strength could be due to a "bolus of needle-phobes" who were waiting specifically for a pill option
"Pharma remains highly invested in the injectable GLP- category… As just last week Lilly LLY.N announced plans to invest >$3.5 Bn in a new injectable facility" - Evercore ISI
WST stock was down 16% in 2025
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