Novo Nordisk Reduces Prices of Ozempic and Wegovy in India in Effort to Maintain Market Share Amid Generic Competition

Novo Nordisk Cuts Prices of Diabetes and Weight-Loss Drugs in India

In a bid to fend off competition from local drugmakers, Novo Nordisk has slashed the prices of its diabetes and weight-loss drugs Ozempic and Wegovy in India. The Danish pharmaceutical company has cut the prices of these drugs by as much as 36% and 48% in the country, its second such move, as the market for diabetes and weight-loss medications is set for a shake-up.

According to Novo Nordisk, the lowest doses of 0.25 mg of Ozempic and Wegovy in India will now be priced at 1,415 rupees ($15.04) for a weekly shot, down from 2,200 rupees and 2,712 rupees earlier, respectively. This represents a significant price reduction, with the average decrease across doses standing at 23.8% for Ozempic and 27% for Wegovy.

The move is a response to the expiration of Novo Nordisk's patent on Semaglutide, the active component in Ozempic and Wegovy, on March 20. In its wake, at least half a dozen Indian drugmakers, including Dr Reddy's, Zydus, and Sun Pharma, have launched multiple brands of the blockbuster diabetes and weight-loss drugs, with some offering prices up to 70% cheaper than Novo's drugs.

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This is not the first time Novo Nordisk has taken steps to mitigate competition in the Indian market. Last year, the company slashed the price of Wegovy by up to 37% from its launch price, anticipating stiff competition from local drugmakers.