Mounjaro retains top spot in India’s weight-loss market; Wegovy makes steady gains after price cuts

Weight loss

Eli Lilly’s Mounjaro continues to dominate India’s fast-growing weight-loss market even as Novo Nordisk’s Wegovy mounts a strong challenge after deep price cuts.

According to data from the Indian pharmaceutical market (IPM) research firm Pharmatrac, Mounjaro, launched in March, commands an 86 percent market share, supported by steady pricing and lean inventories that keep demand strong.

In November alone, Mounjaro clocked Rs 108 crore in sales, making it the number 1 brand in the IPM that month, reflecting sustained momentum despite rising competition.

“Mounjaro continues to dominate but Wegovy’s affordability push is clearly accelerating adoption,” said Sheetal Sapale, President (Marketing) at Pharmarack. “Price remains the single biggest accelerator for category expansion.”

The American firm’s weight loss therapy has clocked sales worth Rs 496 crore since its launch in India, placing it among India’s top 20 pharma brands.

Wegovy entered the Indian market in June and is rewriting the affordability playbook.

In mid-November, the Danish drugmaker Novo Nordisk slashed Wegovy’s price by 30–35 percent, bringing down the cost of a dose from Rs 4,000–Rs 6,000 to Rs 2,700–Rs 4,100.

The impact was immediate: consumption jumped 70 percent in just 15 days, lifting Wegovy’s market share from 9 percent in October to 14 percent in November.

Semaglutide which also includes Rybelsus (oral GLP-1) along with Wegovy, reported MAT sales of Rs. 377 crore, while November Wegovy sales surged to Rs 27 crore, signalling a strong catch-up trajectory.

The GLP-1 agonist segment — drugs initially developed for diabetes but now widely used for weight management — has surged nearly tenfold in five years, reaching Rs 1,047 crore by November 2025, according to Pharmatrac data.

Mumbai alone has posted a 297 percent growth. Maharashtra, of which Mumbai is the capital, accounts for 24 percent of GLP-1 sales despite representing just 9 percent of India’s population.

Delhi-NCR and northern states have contributed 16 percent, far outpacing their demographic weight. In contrast, Bihar and Jharkhand — home to 12 percent of the population — barely registered 1 percent of sales, underscoring affordability and awareness gaps.

The growth outlook is staggering. With a five-year CAGR of 86 percent, analysts see massive headroom as obesity prevalence hovers around 40 percent nationally, concentrated in metros such as Delhi, Chennai, and Bengaluru.

Generics are expected to enter post-2026, forcing innovators to recalibrate pricing strategies. “Innovators who balance affordability with brand equity will lead,” Sapale said.

Inventory trends hint at the next battlefront - Wegovy now holds 37 days of stock, compared to Mounjaro’s lean 14 days, suggesting better availability could fuel further gains.