Novo Nordisk Slashes Wegovy Prices in India Amid Fierce Market Competition

Danish drugmaker Novo Nordisk has cut the price of its weight-loss drug Wegovy by up to 33% in India, a key battleground for obesity treatments. This move comes as it competes with Eli Lilly's Mounjaro, which has swiftly become India's top-selling drug by value as of October.

Novo Nordisk, the Danish pharmaceutical giant, has announced a significant price reduction for its popular weight-loss medication, Wegovy, in the Indian market. The drug's cost has been slashed by up to 33%, a strategic move to bolster its presence in a rapidly expanding market for obesity treatments.

Both Novo Nordisk and U.S.-based Eli Lilly are vying for dominance in this lucrative sector, estimated to reach $150 billion globally by the end of the decade. Despite Wegovy's recent entry into the market, it faces stiff competition from Lilly's Mounjaro, which quickly became India's best-selling drug by value.

The price cut is seen as a necessary response to Mounjaro's success, as well as the anticipated entrance of generic versions once Wegovy's active ingredient patent expires in 2026. Partnerships with local pharmaceutical firms are also being leveraged to expand distribution and reach a wider customer base.

(With inputs from agencies.)