Stock Markets June 5, 2026 08:58 AM

Morgan Stanley: Mixed Weekly Prescription Trends in U.S. Neurology Drugs

IQVIA-based weekly snapshot for the week ending May 29 shows modest year-over-year gains but notable week-over-week declines for several neurology therapies

By Jordan Park ACAD NBIX AXSM

Morgan Stanley published its weekly prescription-tracking figures for select U.S. neurology medicines using IQVIA data for the week ending May 29. The data show modest year-over-year growth in the broader antipsychotic category and for several individual products, while week-over-week comparisons frequently show declines amid a holiday week. Rolling multiweek counts provide a slightly different perspective on underlying trends.

Morgan Stanley: Mixed Weekly Prescription Trends in U.S. Neurology Drugs
ACAD NBIX AXSM

Key Points

  • Overall U.S. antipsychotic prescriptions were up 2.9% year-over-year for the week ending May 29, with rolling 4-week and 12-week totals also higher year-over-year.
  • Short-term week-over-week comparisons showed declines across categories and several branded products, reflecting volatility in the holiday week data.
  • Individual drugs showed mixed dynamics: Auvelity and Ingrezza posted strong year-over-year gains but fell week-over-week; Nuplazid was roughly flat year-over-year with a slight weekly decline.

Morgan Stanley released a weekly prescription tracking update for selected U.S. neurology products based on IQVIA data for the week ending May 29.

Antipsychotic market overview

The U.S. antipsychotic market recorded a 2.9% rise in total prescriptions year-over-year for the reported week, which included the Memorial Day holiday. Longer-run measures were also positive: the rolling 4-week total prescription count rose 2.6% year-over-year, and the rolling 12-week total increased 2.2% year-over-year.

However, on a week-over-week basis the category showed a pullback: total prescriptions declined 8.8% compared with the prior week, which had seen a 2.5% increase.

Bipolar depression medications

Total prescriptions for bipolar depression drugs fell 8.1% week-over-week. The rolling 4-week total prescription count decreased 1.7% on a week-over-week basis. Year-over-year growth for this segment stood at 3.8% for the current week, 3.4% for the rolling 4-week period, and 2.8% for the rolling 12-week period.

Selected branded products

  • Nuplazid (Acadia): Weekly total prescriptions for Nuplazid, indicated for Parkinson’s disease psychosis, declined 2% week-over-week and rose 2% year-over-year. The rolling 12-week count for Nuplazid fell 1% year-over-year. New prescriptions made up 46% of total prescriptions during the week.
  • Auvelity (Axsome): Auvelity, for major depressive disorder, posted an 8% week-over-week decline in total weekly prescriptions but a 34% increase year-over-year. The rolling 12-week total for Auvelity was up 32% year-over-year. New prescriptions represented 57% of the week’s total for the product.
  • Ingrezza (Neurocrine): Ingrezza, used for tardive dyskinesia and Huntington’s disease chorea, saw a 14% drop in weekly total prescriptions versus the prior week and a 19% increase year-over-year. Its rolling 12-week count rose 23% year-over-year. New prescriptions comprised 44% of the week’s total for Ingrezza.

The weekly snapshot highlights contrasts between short-term weekly volatility and steadier year-over-year and multiweek rolling trends across the antipsychotic and related neurology categories.

Risks

  • Week-over-week prescription declines introduce near-term volatility for drug demand metrics, which can affect short-term revenue visibility for pharmaceutical and biotech companies.
  • Holiday-week reporting (the week included Memorial Day) may distort weekly prescription comparisons, complicating interpretation for healthcare investors and market participants.
  • Differences between weekly and rolling multiweek counts create uncertainty about whether observed shifts represent transient fluctuations or the start of sustained trends in the neurology market.

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