The arrival of Novo Nordisk’s anti-obesity drug Wegovy in India is set to intensify competition in the country’s nascent but rapidly growing weight-loss treatment segment. The Danish pharmaceutical giant’s latest offering will challenge Eli Lilly’s Mounjaro, which launched in March and has already made significant inroads.
With obesity and Type 2 diabetes on the rise, India is emerging as a key battleground for global drugmakers developing next-generation therapies targeting metabolic disorders.
Both Wegovy and Mounjaro are weekly injectables backed by robust global data, and their entry is expected to reshape how obesity is treated and perceived in the Indian context.
Early lead for Lilly
Lilly’s Mounjaro, based on the molecule tirzepatide, has enjoyed a first-mover advantage in India. The drug targets both GIP and GLP-1 receptors and has demonstrated weight loss of up to 23 per cent in global trials, higher than the efficacy typically reported for semaglutide, the active ingredient in Wegovy.
According to data from market tracker PharmaTrac, Mounjaro sold more than 81,000 units in its initial weeks, generating close to Rs 24 crore in revenue. Industry executives say the drug saw a 60 per cent increase in sales between April and May, signalling strong early traction.
Novo Nordisk sets aggressive goals
Novo Nordisk, meanwhile, is eyeing Rs 8,600 crore (approximately $1 billion) in sales from Wegovy over the next five to seven years. The company is positioning Wegovy not just as a weight-loss drug, but as a treatment with demonstrated cardiovascular benefits—an area where it believes it can carve out an edge. Wegovy is expected to reach pharmacies by the end of June and will be offered in doses ranging from 0.25 mg to 2.4 mg.
The starting monthly therapy cost is Rs 17,345, with higher doses priced up to Rs 26,015. Mounjaro, by comparison, is priced at Rs 3,500 for a 2.5 mg vial and Rs 4,375 for the 5 mg strength, with the highest dose going up to 15 mg. Both companies are closely matched on pricing, though affordability remains a hurdle.
A market on the cusp of disruption
Despite the high price tag, demand for such therapies is rising. The market for anti-obesity drugs in India has grown more than fourfold, from Rs 133 crore in FY21 to Rs 576 crore by March 2025, according to PharmaTrac.
But the landscape could soon change. Novo Nordisk’s Indian patent for semaglutide is set to expire in 2026, paving the way for generic drugmakers to enter the fray. Domestic majors such as Dr Reddy’s, Sun Pharma, Cipla, Lupin and Biocon are expected to capitalise on the opportunity, bringing more affordable options to market.
Novo Nordisk has already taken legal action against Dr Reddy’s and OneSource in the Delhi High Court, alleging patent infringement. Globally, too, generic versions of semaglutide and tirzepatide have begun appearing, especially in countries with less stringent patent regimes such as Bangladesh and Laos.
Strategic choices ahead
Analysts expect the Indian weight-loss drug market to evolve in three stages. In the short term, through 2025 and early 2026, competition will largely be between branded therapies like Wegovy and Mounjaro. By late 2026, the introduction of generics is likely to lower treatment costs and expand access. Over time, the market may segment, with branded drugs serving patients seeking premium care or specific therapeutic advantages, and generics catering to broader population groups.
For Lilly, the challenge will be to sustain momentum and build on its head start, while Novo will need to execute swiftly to narrow the gap. Physicians, meanwhile, are likely to weigh factors such as clinical history, efficacy, cardiovascular outcomes, and patient preference before prescribing.
Diabetes cases in India are projected to surpass 124 million by 2045, according to the International Diabetes Federation. With that in place and a different celebrity getting papped looking like they lost 20 kgs overnight, the business of weight loss is set to become both a public health imperative and a high-stakes commercial play.