In a major move to capture a larger share of India's burgeoning weight loss drug market, pharmaceutical giant Novo Nordisk has announced a substantial 37% price cut for its popular injectable drug, Wegovy. This strategic decision, announced on Tuesday, directly challenges its rival, Eli Lilly, whose drug Mounjaro has seen significantly higher sales since its launch.
The New Price Structure
The price reduction makes Wegovy a more affordable option for Indians seeking medical help for weight management. The cost for the lowest 0.25 mg dose has been reduced from Rs 4,336 per week to Rs 2,712. For patients on the highest 2.4 mg dose, the new weekly price is set at Rs 4,100. This aggressive pricing positions Wegovy as a more cost-effective alternative compared to its competitor.
Mounjaro's Market Position and Pricing
Eli Lilly's Mounjaro, which entered the Indian market in March, several months before Wegovy's June launch, has established a strong foothold. The drug is priced at Rs 3,500 per 2.5 mg single-dose vial and Rs 4,375 per 5 mg single-dose vial. This translates to a monthly cost ranging between Rs 14,000 to Rs 17,500. For its user-friendly KwikPen format, the highest 15 mg dose costs a substantial Rs 27,500 per month.
This pricing strategy has proven successful for Eli Lilly. According to data from the market research firm Pharmarack, the monthly sales of Mounjaro in October were almost ten times that of Wegovy. In fact, Mounjaro became the top-selling drug by value in India that month, with sales of approximately Rs 100 crore.
Market Impact and Company Statements
The price war highlights the intense competition in the Indian pharmaceutical market for GLP-1 receptor agonists, a class of drugs proven highly effective for weight loss. The competition has also impacted the sales of Novo Nordisk's oral semaglutide, sold as Rybelsus.
Vikrant Shrotriya, Managing Director of Novo Nordisk India, stated in a release, "Ever since the launch of this innovative chronic weight management medication this year, we have dedicatedly worked towards making it accessible to the maximum number of people living with overweight or obesity in India. We have made sure to listen to our patient and doctor communities and take active measures for the benefit of people at large."
Clinical studies have shown that people using Wegovy lost nearly 15% of their body weight on average, with one in three participants losing up to 20% of their body weight. This level of efficacy is comparable to results seen with bariatric surgery. However, head-to-head trials have indicated that, on average, a higher percentage of people on Mounjaro's active ingredient, tirzepatide, were likely to lose more weight compared to those on semaglutide.
This price reduction by Novo Nordisk marks a significant shift in the accessibility of advanced weight management treatments for the Indian population, setting the stage for a fierce battle for market dominance.
