Eli Lilly and Novo Nordisk Race for India’s Obesity Drug Boom

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India is emerging as one of the world’s most important battlegrounds for next-generation weight-loss drugs. As obesity rates climb and awareness grows, global pharma giants are rushing to lock in patients before cheaper generics disrupt pricing.

With billions of dollars at stake, Eli Lilly and Novo Nordisk are reshaping how obesity is treated, and marketed in the world’s most populous country.

India’s Obesity Crisis Is Becoming Big Business

India is on track to have the world’s second-largest overweight or living with obesity by 2050, according to global health projections. That demographic shift is turning the country into a critical growth market for obesity drugs, a sector analysts expect could be worth as much as $150 billion annually worldwide by the end of the decade.

While the United States remains the largest obesity-drug market today, early data from India shows rapid uptake, even though most patients pay out of pocket in a country without widespread insurance coverage for weight-loss treatments.

Research firm Nuvama Institutional Equities estimates India’s obesity-drug market could exceed $1 billion within just two years. Data from analytics company Pharmarack suggests the segment is already worth about 6.28 billion rupees ($70 million), a fivefold jump since 2021.

Early Entry Gives Lilly a Crucial Edge

Eli Lilly’s diabetes and weight-loss drug Mounjaro entered the Indian market in March, months ahead of Novo Nordisk’s Wegovy. That head start has paid off.

By October, Mounjaro had become India’s top-selling obesity therapy by value, with sales doubling within months of launch. Doctors say early availability helped the drug gain trust among physicians and patients alike.

Pricing reflects its premium positioning. A monthly dose of Mounjaro starts at around 13,125 rupees ($147) for the lowest strength and rises to nearly 25,800 rupees ($288) for the highest dose.

Five doctors interviewed by Reuters said Mounjaro’s claim of delivering greater weight loss has made it particularly attractive for patients with severe obesity.

Dr. Anoop Misra, endocrinologist and executive chairman of Fortis C-DOC Hospital, described Lilly’s advantage bluntly: “Mounjaro clearly has the first-strike advantage and continues to see strong demand, though price-sensitive patients are now reassessing alternatives.”

Novo Nordisk Responds With Price Cuts and Speed

Novo Nordisk entered India later, launching Wegovy in June. But the Danish drugmaker moved quickly to course-correct.

In November, Novo slashed Wegovy’s price by up to 37%, bringing its lowest dose down to 10,850 rupees ($121) for a month’s supply. Shortly after, it rolled out Ozempic its blockbuster diabetes drug that is widely used off-label for weight loss, at an even lower starting price of 8,800 rupees ($98).

“We realized very quickly that accessibility required a price correction,” said Vikrant Shrotriya, Novo Nordisk’s managing director in India, speaking during the launch of Ozempic earlier this month.

Ozempic, first approved in the U.S. in 2017 for Type 2 diabetes, became a global bestseller due to its appetite-suppressing effects, blurring the line between diabetes and obesity care.

Generics Are the Looming Threat

The urgency behind these moves is clear. Novo’s patent on semaglutide, the active ingredient in Wegovy and Ozempic expires in India in March 2026.

More than 20 Indian pharmaceutical companies, including Dr. Reddy’s, Cipla, Sun Pharma, Zydus, and Lupin, are preparing to launch lower-cost versions once the patent window closes.

Analysts expect generics to be priced roughly 60% cheaper, a major disruption in India’s highly price-sensitive healthcare market. Novo has already filed lawsuits against Dr. Reddy’s and Sun Pharma in an attempt to delay generic launches.

Shrotriya downplayed the threat, saying Novo’s India strategy will focus on quality, affordability, and trust rather than patents or competitive pressures.

Lilly, meanwhile, benefits from stronger patent protection. Mounjaro’s active ingredient, tirzepatide, is protected at least into the mid-2030s, giving the U.S. drugmaker more room to defend pricing.

Beyond Pricing: A Battle for Reach and Mindshare

The fight is no longer limited to drug efficacy or price tags. Both companies are racing to shape public perception of obesity itself.

Demand is spreading beyond wealthy urban patients to middle-class families, office workers, women approaching menopause, and patients in smaller cities dealing with obesity-related complications.

Lilly has partnered with Cipla to launch a second tirzepatide brand, Yurpeak, aimed at smaller towns. It has also teamed up with Apollo Hospitals to promote obesity and diabetes awareness and is investing over $1 billion to expand contract manufacturing in India.

Cipla confirmed it would help push Lilly’s weight-loss drugs into deeper domestic markets.

Novo has adopted a similar playbook. It partnered with Emcure Pharmaceuticals to launch a second semaglutide brand, Poviztra, expanding distribution beyond major metros. It also teamed up with health-tech startup Healthify to provide patient coaching and with Apollo Hospitals on awareness campaigns.

Marketing Obesity as a Disease

India bans direct-to-consumer advertising of prescription drugs, forcing companies to get creative.

Novo launched a nationwide obesity-awareness initiative called “WeGoWithYou,” designed to connect patients with doctors and educate the public about obesity as a chronic disease. Lilly runs a parallel campaign called “WeKnowNow.”

Both companies are using newspaper ads, billboards, airport displays, clinic pamphlets, and digital campaigns, sometimes featuring Bollywood celebrities, to reframe obesity as a medical condition rather than a lifestyle failure.

Neither firm has disclosed how much it is spending on marketing in India.

What Comes Next for India’s Weight-Loss Market

Analysts say Lilly is under little immediate pressure to cut prices, given Mounjaro’s strong positioning and longer patent runway. Even with future reductions, the drug is expected to remain about 30% more expensive than rival branded options.

Novo, however, faces a tighter clock as generics approach. Its success may depend on how effectively it balances affordability with brand loyalty in a market that rewards value.

All three drugs Mounjaro, Wegovy, and Ozempic, belong to the GLP-1 class, which mimics hormones that slow digestion and promote fullness. Their popularity is reshaping how obesity is diagnosed, discussed, and treated in India.

A Market on the Verge of Transformation

India’s obesity drug market is still young, but the momentum is unmistakable. As global pharma giants pour in money, marketing, and partnerships, the country is becoming a proving ground for the future of metabolic medicine.

Whether premium brands can hold their ground once generics arrive will determine not just who wins, but how millions of Indians access treatment for a condition that is increasingly seen as a disease, not a choice.

 

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