Novo Nordisk launched its blockbuster diabetes drug, Ozempic, on Friday, priced per 0.25 mg dose at $24.35 per week, aiming to capture a vast majority share of the country’s rapidly expanding market for treatments linked to weight loss and rising rates of diabetes.
As reported ReutersOzempic will be sold in pen form in doses of 0.25 mg and 1 mg.
However, the monthly prices are Rs 8,800 for 0.25 mg, Rs 10,170 for 0.5 mg and Rs 11,175 for 1 mg, with each pen covering at least four weekly doses.
According to recent data, India has the second largest population of type 2 diabetes patients in the world after China, and the country is also facing increasing obesity rates.
Ozempic was initially approved in the United States in 2017 for type 2 diabetes, but is now an international player used for weight loss. This helps reduce the risk of cardiovascular and kidney problems.
In this regard, a consultant endocrinologist from Mumbai’s Lilavati Hospital said the drug can only be prescribed by endocrinologists or internal medicine specialists and is not intended for cosmetic use.
Novo Nordisk faces some challenges from Eli Lilly, whose Mounjaro is approved for diabetes and weight loss, while Novo’s Wegovy, which also uses semaglutide, launched in India in June.
Additionally, Novo planned to gain an early advantage before cheaper domestic versions arrived.
Nonetheless, Novo Nordisk is working to capitalize on India’s chronic market growth to secure a central position before the market inevitably becomes more challenging.
