Mumbai: Novo Nordisk is planning to cut the price of its GLP1 weight loss and diabetes drug semaglutide (Ozempic) after nearly a dozen Indian drugmakers launched low-cost generics following the expiry of the innovator molecule’s patent, top industry sources told ET.
“The revised price of Novo’s Ozempic will be at a 30-50% premium to some large Indian brands that have priced their generic semaglutide at around ₹4,000,” an industry insider told ET, suggesting a price cut to about ₹5,000-6,000.
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Novo’s Ozempic is currently priced at ₹8,800-11,175 for a month’s dosage.
“Novo would prefer to have a competition with mostly large competitors in the market and not much of smaller players,” said another industry insider.
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Industry insiders said the company’s decision to cut prices is in response to aggressive pricing by Indian companies and a key strategy to widen market share.
Also Read | Weight-loss drug boom: Will cheaper Ozempic generics shake up India’s fitness and nutrition industry?”We cannot confirm the matter at the moment,” Novo Nordisk said in response to ET’s request for comment.
Sun Pharmaceuticals, Dr Reddy’s Laboratories and Zydus Lifesciences are among large Indian companies that rolled out generic semaglutide on the first day of patent expiry on March 21.
Dr Reddy’s has priced its GLP1 injection Obeda at ₹4,200 per month while Sun’s prices for weekly therapy are ₹900-2,000 for Noveltreat (indicated for chronic weight management) and ₹750-1,300 for Sematrinity (indicated for treatment of type-2 diabetes). Zydus’ semaglutide injection on average costs ₹2,200 for a month.
Companies like Natco and Eris have introduced more affordable vial options, priced as low as ₹1,290 for a month’s supply.