Novo Nordisk’s Bold Price Move in India’s Weight-Loss Drug Market

Facing intensifying competition, Danish pharmaceutical giant Novo Nordisk has implemented a dramatic price reduction for its blockbuster weight-loss medication Wegovy in India. The company has slashed prices by as much as 37%, a strategic response to rival Eli Lilly's successful launch of Mounjaro, which has rapidly gained market dominance.

Eli Lilly's competing product Mounjaro achieved a significant milestone in October, becoming India's highest-revenue generating medication. This development comes despite Novo Nordisk having introduced Wegovy to the subcontinent just months earlier in June 2025. The competitive landscape has forced Novo Nordisk's hand, prompting immediate countermeasures through aggressive pricing.

The highest weekly dosage of 2.4 mg will now cost approximately 16,400 rupees, substantially lower than its previous price point of 24,389 rupees. Lower dosage options have also received significant price reductions.

"Patient and physician feedback has guided our decision," stated Vikrant Shrotriya, Managing Director of Novo Nordisk India. Behind this official explanation lies a pressing need to protect market share ahead of a crucial deadline: the March 2026 patent expiration for semaglutid, Wegovy's active ingredient. This expiration could potentially flood the market with lower-cost generic alternatives.

Dual-Pronged Approach to Market Expansion

Novo Nordisk is implementing a comprehensive strategy for the Indian market that extends beyond price adjustments. On November 10, the company revealed a partnership with Emcure Pharma to introduce Poviztra, a second Wegovy brand. This collaboration aims to leverage Emcure's extensive distribution network to reach broader patient populations across the country.

Should investors sell immediately? Or is it worth buying Novo Nordisk?

The potential rewards justify the aggressive approach. Market analysts project India's obesity medication sector could expand to nearly €3 billion by 2030, representing an almost eight-fold increase from current levels. Companies failing to establish strong market presence risk missing substantial growth opportunities.

Investor Concerns and Volume-Driven Strategy

The critical question for investors remains whether increased sales volume can offset revenue impacts from lower per-unit pricing. This approach carries inherent risks but isn't unprecedented for Novo Nordisk, which recently implemented similar price reductions for semaglutid products in the United States to improve accessibility through government programs.

Market performance indicators already reflect investor apprehension. Since the beginning of the year, Novo Nordisk shares have lost approximately half their value, trading significantly below their 52-week high.

The effectiveness of this aggressive pricing strategy will become clearer when Novo Nordisk discloses full-year 2025 results on February 4, 2026. These figures will reveal the extent to which competitive pressures have affected both revenue streams and profit margins.