Danish pharmaceutical giant Novo Nordisk anticipates a dramatic acceleration in India's market for obesity treatments. The company believes its recent decision to slash the price of its injectable anti-obesity drug Wegovy could expand patient access by five to seven times, replicating a successful strategy previously used for insulin.
Strategic Price Reduction to Drive Access
In an exclusive conversation with TOI, Vikrant Shrotriya, the Managing Director of Novo Nordisk India, clarified the rationale behind the move. The company reduced the price of Wegovy (semaglutide injection) by up to 37% in November last year, compared to its launch price. Shrotriya, a 25-year veteran at Novo who has led the India unit since 2020, stated this was not a reaction to impending generic competition but a deliberate effort to improve patient access.
He drew a parallel to the firm's 2020 decision to cut insulin prices by 30%. "When we cut insulin prices in 2020 by 30%, patient uptake increased five to seven times over five years. We expect a similar impact here," Shrotriya explained. He added that the uptake for semaglutide in obesity could potentially accelerate even faster, given the massive scale of unmet medical need in this treatment area in India.
Navigating the Looming Generic Wave
This strategic pricing move comes as the market prepares for significant change. The patent for semaglutide is set to expire in India in March, opening the doors for lower-cost generic versions. Rival drugmaker Eli Lilly & Co is also eyeing a share of this fast-growing therapeutic segment.
Analysts project a substantial opportunity for generic drugmakers, both global and domestic. Over the next 12 to 15 months, the expiry in India, other emerging markets, and regulated markets like Brazil and Canada could create an incremental Rs 5000-crore opportunity for generic semaglutide. A Systematix analyst noted, "For FY27E, we see this as a Rs 1000-2000 crore incremental revenue opportunity in India's branded formulation space."
When asked about pricing pressure from generics, Shrotriya acknowledged the coming competition. "The market will be competitive and evolve rapidly — like AI adoption. Multiple players will enter, benefiting patients through better access and services," he said. Novo Nordisk aims to position itself as the preferred partner for doctors and patients by emphasizing quality, reliability, and comprehensive patient education.
Expanding the Portfolio and Commitment to India
Novo Nordisk is not resting on its injectable offerings. In a significant development, the US FDA approved an oral version of semaglutide in December 2025, expanding the company's obesity treatment portfolio beyond injections. While the Wegovy pill is slated for a US launch this month, its introduction in India will be evaluated based on global uptake patterns and production capacity.
Reiterating the company's long-term commitment to the Indian market, Shrotriya highlighted Novo Nordisk's deep roots. "India has always been a priority. We were among the first to set up shared services here 20 years ago," he stated. Today, the company boasts the largest diabetes care franchise in the country, with five of its brands ranking among the top 100 pharmaceutical brands in India.
The stage is set for a dynamic evolution in India's obesity care landscape. With a pioneer like Novo Nordisk betting big on access and new competitors poised to enter, the market is expected to grow rapidly, offering more treatment options to patients.
