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 due to increasing competition in the obesity drug market in China. This strategic move has led to a noticeable drop in the prices of GLP-1 based products.

Price Drop of Wegovy

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 expected expiration of the patent protection for the active ingredient semaglutide in March.

Market Entry Eased

The expiration of semaglutide's patent creates a significant opportunity for local pharmaceutical manufacturers. Companies like CSPC Pharmaceutical Group and Hangzhou Jiuyuan Genetic Biopharmaceutical are preparing to launch their own versions of Wegovy. This situation will increase competition and provide consumers with more options.

Price Reductions and Market Trends

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

Additionally, the obesity treatment Xinermei, launched by Innovent Biologics in July, has accelerated the price reductions from Eli Lilly and Novo Nordisk since entering the market. Xinermei is the third GLP-1 injection to be available in China, following Wegovy and Mounjaro.