On Tuesday, Danish drugmaker Novo Nordisk slashed prices of its blockbuster weight-loss and type-2 diabetes drugs Ozempic and Wegovy by up to 48%, as it faces mounting pressure from local drugmakers who have launched copycat versions at half the cost.
Semaglutide, the ‘miracle’ active ingredient behind the drugs, lost patent exclusivity in India on 20 March, and nearly all Indian formulators are eyeing its lucrative market, sparking a cut-throat competition of an intensity rarely seen before. The pricing war portends the anticipated market expansion of the weight loss drug market. While the expansion will make these drugs more accessible to a wider group of patients, there are also concerns over increasing misuse.
Mint decodes what this means for the industry as well as the consumers.
What is happening?
Novo Nordisk lost patent exclusivity for semaglutide, a GLP-1 (glucagon-like peptide-1) receptor agonist, in India on 20 March. The drug shot to global popularity in the last five years, with its brand Ozempic becoming almost synonymous with medicated weight loss.
Several Indian drugmakers launched generic copies, with prices dropping 50-90%. Subsequently, Novo Nordisk slashed costs for starting doses of Ozempic and Wegovy by 36% and 48%, respectively and an average price reduction of 23.8% for Ozempic and 27% for Wegovy across doses.
The starting dose for Ozempic and Wegovy (0.25mg) will be available at ₹1,415 per week or ₹5,660 per month under the new pricing, which came into effect 1 April. Earlier, the price of Wegovy was approximately ₹10,850– ₹16,400 per month, while that for Ozempic was around ₹8,800– ₹11,175 a month.
Who are the key players?
Novo has tied up with domestic player Emcure Pharmaceuticals, as well as Abbott for exclusive distribution partnerships for semaglutide.
American drug giant Eli Lilly also launched its patented GLP-1 drug Mounjaro (tirzepatide) in India in March 2025, and has tied up with Cipla for distribution.
With semaglutide’s patent expiry, top Indian drugmakers such as Dr. Reddy’s, Sun Pharma, Zydus Lifesciences, Torrent Pharma, Natco Pharma, Eris Lifesciences, Alkem Laboratories and Glenmark launched generic copies of the drug under various brand names, priced 50-90% below the innovator brands.
Apart from the first wave of launches between March and June 2026, several large and small Indian drugmakers are planning launches through the year—either in partnership with larger players or individually. According to drug intelligence platform Pharmarack, over 50 brands are likely to be launched this year.
Experts believe that despite the market being crowded, only the top five or six players will gain a long-term advantage. Companies with strong pan-India distribution networks, as well as those with a presence in the diabetes injectables segment, are best poised to gain a strong share.
Though the price of the drugs decreases, the eligible patient pool remains the same, noted Pharmarack’s report on the market from February 2026. The market may still see a strong segment of patients and doctors sticking with innovator brands—patients already onboarded on innovators will not shift, as they belong to the affording class. Speciality and super-speciality doctors may still continue to prefer innovators because of sound clinical studies in terms of efficacy and safety profile, the Pharmarack report noted.
How fast is the market growing?
The market—with sales of patented drugs already over ₹1,400 crore as of February 2026—is expected to grow 5x in the next five years, according to CareEdge Ratings. India is one of the most attractive markets for GLP-1s with its fast increasing incidence rate of type-2 diabetes and obesity.
A report by Systematix Institutional Equities dated 2 January pegs the generic semaglutide opportunity across India, the emerging markets and regulated markets at over ₹5,000 crore over the next 12-15 months. “This opportunity is likely to be shared among 10-15 players, comprising Indian and global generic manufacturers,” the report said.
What does this mean for patients?
The pricing war ultimately means that the drugs will become more accessible to Indian patients. There is a growing pool of diabetic and obese patients in the country. According to a 2023 Indian Council of Medical Research-India Diabetes (ICMR-INDIAB) study, India has 254 million people with generalized obesity and 351 million people with abdominal obesity. Over 101 million people in India are living with type-2 diabetes, according to the study.
However, doctors have also cautioned over the risks of misuse of the drug for cosmetic reasons, especially with aggressive marketing tactics employed by drugmakers.
These are prescription drugs that need to be taken under proper medical supervision, however, industry experts have noted a trend of “consumerization” when marketing GLP-1s, given their perception as lifestyle drugs.
GLP-1s are prescription drugs for a specific set of patients, and can have several side-effects, including digestive issues, loss of muscle mass and hormonal imbalances.
What is the regulator doing?
Owing to concerns over misuse, the apex regulator has intensified its scrutiny. On Wednesday, it issued an advisory on GLP-1s, warning against over-the-counter purchases. According to the advisory, only endocrinologists, internal medicine specialists, and cardiologists can prescribe the drug.
The Drug Controller General of India (DCGI), along with State Drug Controllers, has intensified surveillance across the country, with inspections being carried out at pharmacies, clinics, and online platforms.
On 11 March, the DCGI issued a directive to all pharmaceutical manufacturers and importers to immediately stop surrogate, or indirect, promotion of prescription drugs, particularly targeting GLP-1s.
Last week, the regulator sent notices to violators after conducting audits, and is expected to step up action, including license cancellation and prosecution, in the coming weeks.
