Indian Drugmakers Race to Launch Generic Weight-Loss Drugs at 60% Discount

Indian drugmaker Dr Reddy's Laboratories hopes to launch a generic version of Novo Nordisk's blockbuster weight-loss drug Wegovy at a competitive price that could be up to 60% lower than the branded product. The co-chairman and managing director told an interview on the sidelines of the BioAsia conference in Hyderabad that "fifty to 60 percent (lower than the innovator) is very comfortable."

Wegovy's monthly price in India ranges from ₹10,850 ($119.65) for the lowest 0.25 mg dose to ₹16,400 for the highest 2.4 mg dose. The executive declined to give a specific price point for their generic version, but said discounts in that range were feasible.

The patent for semaglutide is set to expire in March, paving the way for generic drugmakers to enter the Indian market. Dr Reddy's plans to work with local partners in India for the launch and has said it has sufficient production capacity to meet demand. The company aims to sell 12 million injectable semaglutide pens in the first year of launch.

Dr Reddy's last month received an approval from India's drug regulator to manufacture and sell a generic version of Ozempic, and said that it was awaiting approval for a generic Wegovy. The co-chairman noted that "in the generic industry, everybody is going to launch, so we'll have to figure out who will get market share."

India is turning out to be a key battleground for drugmakers as they compete fiercely for a bigger share of the global market for weight-loss drugs that analysts estimate could be worth $150 billion annually by the end of the decade. Indian drugmakers, including Dr Reddy's, Lupin, Sun Pharmaceutical and at least half a dozen others are racing to bring cheaper copies to markets once the active compound goes off patent.

Biocon is aiming for high-double-digit percentage revenue growth as the Indian pharmaceutical firm prepares to launch generic versions of weight-loss drugs globally even as it remains cautious about an early rollout in the home market. The company is counting on demand for obesity medicines as it expands a pipeline that includes copycat versions of Novo Nordisk's Wegovy.

Bengaluru-based Biocon is targeting a U.S. launch of generic liraglutide in the first quarter of the next financial year. Liraglutide is also used for obesity treatment. It aims to launch generic Wegovy in Canada next year, subject to regulatory approval. It is also planning launches over the next few years in India, Brazil, Mexico, Turkey, and parts of the Middle East and Latin America.

The company, however, is cautious about an early start in India due to fierce price competition and local clinical trial requirements. The CEO said there's going to be fierce competition in India, citing low price expectations. He said Biocon is exploring approval in a specific overseas market first, which could help it seek a clinical trial waiver in India under local rules. In India, Biocon would need to run a late-stage clinical trial before launch. The company is weighing whether that cost would be justified, or whether it should seek a waiver.

Biocon expects high double-digit percentage revenue growth. The company's annual revenue grew 5.4% in fiscal 2025 from a year ago, but it has been growing in early double-digits on a quarter-on-quarter basis. India is not Biocon's main market. The company derives significant share of revenue from the United States and parts of Europe.

Analysts expect generic versions to be priced at least 60% below the originator products. Separately, Dr Reddy's is also aiming to launch a biosimilar version of cancer therapy rituximab in the United States, pending regulatory approval. The therapy is sold under the brand name Rituxan by Genentech and Biogen. The company is not immediately looking to expand its US manufacturing footprint.