Novo Nordisk Halves Wegovy Prices In China Ahead Of Generic Threat

Novo Nordisk A/S (NYSE:NVO) has reportedly slashed list prices for its obesity drug Wegovy by about 50% in parts of China, signaling a defensive move ahead of rising generic competition.

Citing local print media, Bloomberg noted on Monday that prices for the two highest Wegovy doses were reduced to 987.48 yuan ($141) and 1,284.36 yuan in provinces including Yunnan and Sichuan, based on government drug-procurement documents.

Novo said the cuts are intended to ease patient costs and support treatment adherence.

Also Read: Food Companies Rethink Menus For GLP-1 Users As Wegovy Weight Loss Pill Gets Approval

Prices on JD.com’s (NASDAQ:JD) online pharmacy have also been lowered, allowing patients nationwide to order Wegovy following an online medical consultation.

The price reductions come as Novo’s semaglutide patent in China expires in March, opening the door for lower-cost local generics.

Bloomberg highlighted that competitive pressure has already increased following China’s approval of a domestically developed obesity drug from Innovent Biologics Inc. (OTC:IVBXF), adding to the global rivalry between Novo Nordisk and Eli Lilly and Co. (NYSE:LLY).

Ozempic Launch in India

In December, Novo Nordisk launched Ozempic in India, setting a weekly price of $24.35 for the 0.25 mg dose as it moves to capture growth in one of the world’s largest diabetes and obesity markets.

Reuters reported the drug will be sold in pen formats across 0.25 mg, 0.5 mg, and 1 mg strengths, with monthly pricing of 8,800 rupees, 10,170 rupees, and 11,175 rupees, respectively. Each pen includes four weekly doses.

Analysts expect these prices to set the benchmark for semaglutide generics slated to arrive next quarter.

India is the second-largest market for type 2 diabetes after China, making it a key expansion opportunity for Novo Nordisk.

Eli Lilly’s India Manufacturing Push

In October, Eli Lilly said it plans to invest over $1 billion in India to strengthen its manufacturing network.

Currently, Lilly does not operate its own manufacturing facility in India. Instead, it plans to collaborate contractually with local firms that produce complex drugs, vials, and injectables.

NVO Price Action: Novo Nordisk shares were down 1.35% at $51.69 at the time of publication on Monday, according to Benzinga Pro data.

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