Wegovy: Novo Nordisk cuts price of weight-loss drug

Novo Nordisk is lowering prices of its top-selling obesity drug Wegovy in China, the Danish drugmaker said on Monday, as it braces for intense competition from local rivals next year when the patent for its blockbuster treatment ends.

The company did not give details on the new prices, but local media outlet Yicai reported earlier that list prices for the two highest dosages of Wegovy were cut by 48% to 987 yuan ($141) and 1,284 yuan per month respectively in some Chinese provinces.

“We can confirm that we are adjusting our prices of Wegovy in China,” the firm told Reuters in a statement. “We believe this pricing adjustment in China will further help alleviate the treatment burden for patients and improve their quality of life.”

Over 65% of China’s population of around 1.4 billion could be overweight or obese by 2030, making it a rapidly growing market for weight-loss drugs.

With Novo’s patent on Wegovy’s active ingredient semaglutide expiring in 2026 in China and some other important markets, Chinese drugmakers, including CSPC Pharmaceutical Group and Hangzhou Jiuyuan Genetic Biopharmaceutical Co, are developing their own versions of the drug and others are gearing up to launch rivals.

Yicai, citing local procurement authorities, had reported that the price cuts would be made in the southwestern Chinese provinces of Yunnan and Sichuan.

Novo slashed Wegovy prices by up to 37% in India last month, as it looks to gain ground in another fast-emerging market for obesity treatments. Novo and U.S. rival Eli Lilly – both shifting towards cash-paying consumers – also agreed to cut U.S. prices in November.

($1 = 7.0056 Chinese yuan renminbi)