Weight-loss drug Ozempic coming to Indian market soon
What's the story
Danish pharmaceutical giant Novo Nordisk is gearing up to launch its innovative weight-loss drug, Ozempic (semaglutide), in India. The once-a-week injectable was originally approved for type 2 diabetes management but has been increasingly used for obesity treatment. The US Food and Drug Administration (FDA) approved the drug in 2017, and last year alone, its global sales exceeded $17 billion.
Market strategy
Wegovy launched in June, competing with Mounjaro
In June, Novo Nordisk launched Wegovy, its drug brand approved for obesity management in India. This move directly pits it against US pharma giant Eli Lilly's Mounjaro (tirzepatide), which was launched in March this year. Recently, Novo Nordisk has received government approval for Ozempic's launch, paving the way for its formal introduction into the Indian market.
Competitive landscape
Wegovy trails behind Mounjaro in sales
Novo Nordisk's decision to launch Ozempic in India comes amid stiff competition from Eli Lilly's Mounjaro. The latter has raked in ₹154 crore in sales during its first five months in the country, PharmaTrac data shows. Wegovy, on the other hand, has seen cumulative sales of ₹19 crore during its first three months.
Corporate statement
Commitment to Indian market
A spokesperson for Novo Nordisk confirmed the upcoming launch of Ozempic, emphasizing India's importance as a key market. The company is committed to bringing its latest innovations here as early as possible. In a statement to ET, the company said it has built a strong foothold in India's GLP-1 market with Rybelsus (an oral drug) and Wegovy.
Market impact
Patent expiry concerns for Novo Nordisk
The launch of Ozempic comes at a critical time for Novo Nordisk. The company is set to lose its patent for semaglutide in March next year, which could lead to a wave of generic versions from leading Indian drug makers such as Sun Pharma, Dr. Reddy's, Biocon, Cipla, and Zydus Lifesciences. Despite this impending patent expiry, Novo Nordisk remains confident about the continued demand for type 2 diabetes and obesity treatments.