Weight loss drug manufacturer Eli Lilly's market share in India declined in March, while rival drugmaker Novo Nordisk's share remained steady.
The slip came after patent for a key ingredient in these weight loss drugs, such as semaglutide, expired earlier in the month, and the pharma market got flooded with cheaper generic Indian substitutes.
The market share fell from 61% in February to 56% in March, CNBC reported, citing data from industry intelligence provider Pharmarack. The data pointed out that Novo Nordisk's market share held steady at 25%.
The shift to generic and more affordable alternates was expected to impact sales of Novo Nordisk and Eli Lilly both, but early data has revealed that the latter has taken the bigger hit.
A further erosion is expected in sales of Eli Lilly's more expensive tirzepatide-based brands as the presence of cheaper weight loss drugs grows, according to experts.
Within a matter of weeks, the Pharmarack report noted that 13 Indian generic drug companies have collectively launched 26 brands of semaglutide, which is prescribed for both weight loss and diabetes management. India's 100 million diabetics and 125 million pre-diabetics make for a huge market for such drugs.
The starting price of Eli Lilly's Mounjaro is around 13,800 rupees ($148) per month, Mumbai‑based diabetologist Rajiv Kovil told CNBC. He pointed out that, it is twice the price for Novo's semaglutide drugs and 10 times more than the cheapest of the generic versions.
A long list of pharma giants, including Dr Reddy's Laboratories Ltd., Sun Pharmaceutical Industries Ltd., Biocon Ltd. and Lupin Ltd., are in the frontline for providing generic substitutes.
Patent Expiry Recap
For years, the 'miracle' weight-loss drug semaglutide — an engine behind global blockbusters like Ozempic — was a luxury reserved for the few who could stomach a Rs 20,000 monthly bill. On March 20, 2026, things changed when patent for Semaglutide officially expired in India.
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