Novo Nordisk has again cut the prices of its blockbuster diabetes and weight-loss drugs Ozempic and Wegovy by up to 36% and 48% in India, to fend off competition from cheaper generics made by local drugmakers.
India’s market for diabetes and weight-loss drugs is set for a shake-up after the Danish drugmaker’s patent on semaglutide, the active component in Ozempic and Wegovy, expired on March 20.
At least half a dozen Indian drugmakers, including Dr Reddy’s Zydus and Sun Pharma, launched multiple brands of the blockbuster diabetes and weight-loss drugs, up to 70% cheaper than Novo’s drugs in some cases.
Ozempic’s and Wegovy’s lowest doses of 0.25 mg in India will now be priced at 1,415 rupees ($15.04) for a weekly shot from 2,200 rupees and 2,712 rupees earlier, respectively, Novo Nordisk India said in a statement on Tuesday.
The average price reduction across doses is 23.8% for Ozempic and 27% for Wegovy, it said.
“We’ve heard from patients and doctors, and we’re acting on that feedback,” said Vikrant Shrotriya, managing director at Novo Nordisk India, adding that the drugs also offer cardiovascular benefits.
The entry of generics will also challenge Novo and U.S. rival Eli Lilly, which launched its blockbuster diabetes and obesity drugs in India last year, as they seek to cement their position in the country.
Lilly’s Mounjaro became India’s top-selling drug by value within months of its launch, according to data from Pharmarack, a research firm.
Novo’s Ozempic is available in three dose strengths of 0.25 mg, 0.5 mg and 1 mg in India, while Wegovy has five dose strengths.
Ozempic’s and Wegovy’s 1 mg weekly shot is now priced at 2,275 rupees ($24.18) after price cuts of 18.5% and 34.2%, respectively. The company slashed Wegovy’s 0.5 mg dose price by 41.5% to 2,025 rupees.
“..this price reduction reflects how innovation can become more accessible when market dynamics evolve,” Venu Gopal Pareek, a bariatric surgeon said, adding that patients might choose Novo’s drugs over generics given that it is an original molecule, and if the price difference is not beyond 15%.