Novo Nordisk (NVO) has cut the price of its weight-loss injection Wegovy by as much as 37% from its launch price in India, as the Danish drugmaker plays catch-up with rival Eli Lilly (LLY), whose GLP-1 drug Mounjaro became the country’s best-selling medication in October.
Reuters, which first reported the price cut, said on Tuesday that, according to a company document sent to its distributors, Novo (NVO) has slashed the price of the blockbuster treatment by up to 33%.
The price change also includes the impact of a revised national sales tax structure that took effect in September, making the GLP-1 injectable slightly cheaper in India.
According to the company, Wegovy at its highest dose of 0.25 mg will now be sold in India for ₹16,400 ($186.59) for a monthly pack, down from the earlier price of ₹24,389.06. The monthly price of Wegovy’s lowest dose, 0.25 mg, will stand at ₹10,850, compared with ₹16,260.94 earlier.
“We have made sure to listen to our patient and doctor communities and take active measures for the benefit of people at large,” said Vikrant Shrotriya, managing director of Novo Nordisk’s India operations.
The decision marked the weight loss drugmaker’s latest attempt to gain a stronger market position in the world’s most populous country, where obesity rates are rising fast. In March, Lilly (LLY) rolled out its popular weight-loss/diabetes therapy Mounjaro, months ahead of Wegovy’s launch in June.
Citing research firm Pharmarack, Reuters reported last week that Mounjaro became India’s top-selling drug by value in October, surpassing GSK’s (GSK) antibiotic therapy Augmentin.