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Dynamics of prescription volume in the U.S. drug market: Multiple new drugs have divergent performance on the market, with Cobenfy and Yeztugo becoming the focus of attention (Morg

2026-07-19·ima-daily5min-0719-26-3c268432c6

Street Signal | Dynamics of prescription volume in the U.S. drug market: Multiple new drugs have divergent performance on the market, with Cobenfy and Yeztugo becoming the focus of attention (Morg

Based on IQVIA prescription data, Morgan Stanley analyzed the overall prescription volume growth of the U.S. drug market and the performance of multiple new drugs.

Key points include: BMY's Cobenfy (schizophrenia) has a weekly prescription volume of approximately 3,300, which needs to reach 2-5 times the growth rate of similar products to achieve the 2026 consensus; GILD's Yeztugo (HIV prevention) has a weekly prescription volume of approximately 1,750, with strong growth; VRTX's Journavx (acute pain) has a weekly

prescription volume of approximately 23,460, but attention needs to be paid to the impact of its high GTN (gross to net price discount) on revenue. The market pays close attention to the success rate of new drug launches.

This report quantifies the commercialization prospects of each drug through prescription data, which helps investors judge the fulfillment of its stock price catalysts.

One-sentence conclusion: By tracking IQVIA's prescription data, it can be clearly seen that the "climbing" speed of a new drug after its launch is the key to determining whether it can meet market expectations and even whether its stock price can rise. The current early data of Cobenfy and Yeztugo provide important reference.

Positive/negative: Positive for GILD (Yeztugo has strong growth), and has a neutral to negative impact on BMY (Cobenfy needs to accelerate) and VRTX (Journavx revenue prospects are questionable). The market's optimistic expectations for Cobenfy may be too high, while the potential of Yeztugo may be underestimated. Catalysts:

1) Follow-up weekly prescription volume data to verify the growth trend;

2) Official guidance on new drug sales in relevant company quarterly reports;

3) Expansion or restriction of insurance coverage.

Full text

Dynamics of prescription volume in the U.S. drug market: Multiple new drugs have divergent performance on the market, with Cobenfy and Yeztugo becoming the focus of attention (Morg

Based on IQVIA prescription data, Morgan Stanley analyzed the overall prescription volume growth of the U.S.

Based on IQVIA prescription data, Morgan Stanley analyzed the overall prescription volume growth of the U.S. drug market and the performance of multiple new drugs. Key points include: BMY's Cobenfy (schizophrenia) has a weekly prescription volume of approximately 3,300, which needs to reach 2-5 times the growth rate of similar products to achieve the 2026 consensus; GILD's Yeztugo (HIV prevention) has a weekly prescription volume of approximately 1,750, with strong growth; VRTX's Journavx (acute pain) has a weekly prescription volume of approximately 23,460, but attention needs to be paid to the impact of its high GTN (gross to net price discount) on revenue. The market pays close attention to the success rate of new drug launches. This report quantifies the commercialization prospects of each drug through prescription data, which helps investors judge the fulfillment of its stock price catalysts. One-sentence conclusion: By tracking IQVIA's prescription data, it can be clearly seen that the "climbing" speed of a new drug after its launch is the key to determining whether it can meet market expectations and even whether its stock price can rise. The current early data of Cobenfy and Yeztugo provide important reference. Positive/negative: Positive for GILD (Yeztugo has strong growth), and has a neutral to negative impact on BMY (Cobenfy needs to accelerate) and VRTX (Journavx revenue prospects are questionable). The market's optimistic expectations for Cobenfy may be too high, while the potential of Yeztugo may be underestimated. Catalysts: 1) Follow-up weekly prescription volume data to verify the growth trend; 2) Official guidance on new drug sales in relevant company quarterly reports; 3) Expansion or restriction of insurance coverage.

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