Danish pharmaceutical giant Novo Nordisk has reduced the price of its popular weight-loss drug Wegovy by as much as 33% in India, according to a document reviewed by Reuters. The move comes as the company seeks to strengthen its foothold in one of the world’s fastest-growing markets for obesity treatments.
Following the announcement, Novo Nordisk’s U.S.-listed shares rose 3.8% to $47.67, while rival Eli Lilly’s shares saw a slight uptick in early trading.
India has emerged as a key battleground between Novo Nordisk and Eli Lilly, who are competing for dominance in a global weight-loss drug market projected to reach $150 billion annually by 2030.
Under the new pricing, Wegovy’s 2.4 mg dose will now retail for 16,400 rupees ($186.59), down from 24,389.06 rupees, while the 0.25 mg dose has been cut to 10,850 rupees, from 16,260.94 rupees previously, according to the company’s notice to drug distributors.
Wegovy entered the Indian market in June 2025, trailing behind Eli Lilly’s Mounjaro, which launched in March and has already seen its sales double within months.
Both Wegovy and Mounjaro belong to a class of drugs known as GLP-1 receptor agonists, which help regulate appetite and are used to treat obesity and type 2 diabetes.
Wegovy’s active ingredient, semaglutide, is set to go off patent in India by March 2026, opening the door for generic manufacturers to enter the market. Analysts believe this impending competition may have prompted Novo’s price cut.
“This could also be because generics are entering the market in 2026, so a lower price will help Novo compete better,” said Vishal Manchanda, analyst at Systematix Institutional Equities, adding that Mounjaro is currently outperforming Wegovy in India.
The price reduction follows reports that Mounjaro became India’s top-selling drug by value in October, marking a major milestone for Eli Lilly.
To boost local distribution, both companies are partnering with Indian firms: Eli Lilly with Cipla for Mounjaro, and Novo Nordisk with Emcure Pharma for Wegovy. Experts say these collaborations will help expand access and strengthen supply chains across India.
Novo Nordisk has not yet responded to Reuters’ request for comment on the price revision.
