Price reductions for obesity drugs have started in China.

Price Reductions from Eli Lilly and Novo Nordisk

Eli Lilly (LLY) and Novo Nordisk (NVO) are making significant price reductions in the obesity medication market in China, driven by increasing competition. This strategic move has resulted in noticeable decreases in the prices of GLP-1 based products.

Wegovy's Price Decrease

According to China-based Yicai, Novo Nordisk has halved the list price of the two highest doses of its popular GLP-1 treatment Wegovy in several provinces. This discount was implemented due to the active ingredient semaglutide losing patent protection in March.

Ease of Market Entry

The expiration of semaglutide’s patent creates significant opportunities for local drug manufacturers. Companies like CSPC Pharmaceutical Group and Hangzhou Jiuyuan Genetic Biopharmaceutical are preparing to launch their own versions of Wegovy. This will lead to increased competition and provide consumers with more choices.

Price Reductions and Market Trends

Eli Lilly announced that it will reduce the price of its GLP-1 drug Mounjaro, used for weight loss, starting January 1. On China’s popular food delivery platform Meituan, the 10 mg Mounjaro injector pen is listed at 445 yuan (63 dollars). This price is significantly lower than the previous value of 2,180 yuan.

Additionally, the obesity treatment Xinermei, launched by Innovent Biologics in July, has accelerated the price reductions from Eli Lilly and Novo Nordisk as it enters the market. Xinermei is now available as the third GLP-1 injection administered weekly, following Wegovy and Mounjaro.