Novo Nordisk Lowers Wegovy Cost to Boost India Market

Danish pharmaceutical company Novo Nordisk (NOVOb.CO), opens new tab announced on Tuesday that it has reduced the price of its weight-loss medication, Wegovy, by as much as 37% from its initial launch price in India, as it aims to strengthen its position in one of the fastest-growing markets for obesity treatments worldwide.

 Earlier in the day, Reuters reported exclusively that the company had lowered prices by up to 33% for the popular treatment, referencing a document sent to its distributors. This reduction also reflects the changes made to the national sales tax structure in September, which resulted in a slight decrease in the drug's price.

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 India is emerging as a crucial battleground for Novo Nordisk and U.S. pharmaceutical company Eli Lilly (LLY.N), opens new tab as they vigorously compete for a larger share of the global market for weight-loss medications, which analysts predict could reach a value of $150 billion annually by the end of the decade.

 The monthly cost for Wegovy's highest dosage of 2.4 mg will now be 16,400 rupees ($186.59), down from its previous price of 24,389.06 rupees, according to the document.

 The lowest dosage of 0.25 mg will be priced at 10,850 rupees for a monthly supply, compared to the earlier price of 16,260.94 rupees.

 "We have ensured that we listen to our patient and doctor communities and take proactive steps for the benefit of the general public," stated Vikrant Shrotriya, managing director of Novo Nordisk India.