Mumbai: Aggressive price cuts by Denmark-based Novo Nordisk are set to reshape competition in India's GLP-1 therapy market, potentially giving the innovator an edge over domestic generics players such as Dr Reddy's Laboratories and Sun Pharmaceutical Industries.
Industry experts said the move, combined with Novo's longstanding credibility among diabetologists and endocrinologists, could help it expand volumes even as competition intensifies.
On Tuesday, Novo Nordisk announced sharp price reductions for its semaglutide brands Ozempic and Wegovy to widen patient access.
The starting price of Ozempic has been reduced by 36%, while Wegovy has seen a steeper 48% cut.
ET was the first to report on Monday that Novo was planning a price cut.
The company has aligned base dosage prices of both drugs at ₹5,660 per month. Ozempic, used for type 2 diabetes management, will be priced between ₹5,660 and ₹9,100 across three dosages (0.25 mg, 0.5 mg and 1 mg). Wegovy, indicated for chronic weight management, will cost between ₹5,660 and ₹16,400 across five dosages (0.25 mg, 0.5 mg, 1 mg, 1.7 mg and 2.4 mg).
The revised prices will take effect from Wednesday.
The move is aimed at making these therapies accessible to a wider patient base in India, Novo Nordisk India head Vikrant Shrotriya told ET.
"We realised three-four months back that we need to change the access point," he said. "Access is going to be a very important parameter... also supply chain and cold chain are going to be very important factors that will decide who is getting preferred in the therapy."
Also Read | Novo Nordisk plans to cut price of Ozempic as generics hit market
Analysts and industry experts expect Novo to capture a lion's share of the GLP-1 market in the next 12-18 months.
The segment is currently dominated by Eli Lilly's weight loss molecule Mounjaro (tirzepatide), which holds about 79% share, while Novo's semaglutide accounts for around 21% as of February-end.
Industry experts said the move, combined with Novo's longstanding credibility among diabetologists and endocrinologists, could help it expand volumes even as competition intensifies.
On Tuesday, Novo Nordisk announced sharp price reductions for its semaglutide brands Ozempic and Wegovy to widen patient access.
The starting price of Ozempic has been reduced by 36%, while Wegovy has seen a steeper 48% cut.
ET was the first to report on Monday that Novo was planning a price cut.
The company has aligned base dosage prices of both drugs at ₹5,660 per month. Ozempic, used for type 2 diabetes management, will be priced between ₹5,660 and ₹9,100 across three dosages (0.25 mg, 0.5 mg and 1 mg). Wegovy, indicated for chronic weight management, will cost between ₹5,660 and ₹16,400 across five dosages (0.25 mg, 0.5 mg, 1 mg, 1.7 mg and 2.4 mg).
The revised prices will take effect from Wednesday.
The move is aimed at making these therapies accessible to a wider patient base in India, Novo Nordisk India head Vikrant Shrotriya told ET.
"We realised three-four months back that we need to change the access point," he said. "Access is going to be a very important parameter... also supply chain and cold chain are going to be very important factors that will decide who is getting preferred in the therapy."
Also Read | Novo Nordisk plans to cut price of Ozempic as generics hit market
Analysts and industry experts expect Novo to capture a lion's share of the GLP-1 market in the next 12-18 months.
The segment is currently dominated by Eli Lilly's weight loss molecule Mounjaro (tirzepatide), which holds about 79% share, while Novo's semaglutide accounts for around 21% as of February-end.
