Price reductions for obesity drugs have begun in China.

Price Reductions from Eli Lilly and Novo Nordisk

Eli Lilly (LLY) and Novo Nordisk (NVO) are making notable price reductions in the obesity drug market in China due to increasing competition. This strategic move has led to a significant decrease 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 some provinces. This reduction was made because the active ingredient semaglutide will lose its patent protection in March.

Easier 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 versions of Wegovy. This situation will both increase competition and provide consumers with more options.

Price Reductions and Market Trends

Eli Lilly announced that it will reduce the price of its GLP-1 drug Mounjaro, which is 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.

In addition, the obesity treatment Xinermei, launched by Innovent Biologics in July, has also accelerated the price reductions of Eli Lilly and Novo Nordisk as it enters the market. Xinermei has become the third GLP-1 injection available in China after Wegovy and Mounjaro, administered once a week.