Eli Lilly's Mounjaro sales dip as semaglutide generics flood Indian market

By Satviki Sanjay

 

The flood of cheap copies of Novo Nordisk A/S’ blockbuster drug semaglutide in India is already reshaping the country’s fast-growing obesity market, cutting into Eli Lilly & Co.’s early lead and offering a first real test of how Novo may fare as its patents expire worldwide. 

Within days of dozens of generics hitting the Indian market, semaglutide’s share in the country’s GLP-1 segment jumped to 33 per cent in March from 25 per cent a month earlier, according to researcher Pharmarack. That gain came at the expense of tirzepatide — the active ingredient in Lilly’s Mounjaro — whose share fell to 64 per cent from 71 per cent, Pharmarack said.

   

The data, which counts sales of non-branded versions between March 21-31, marks the first meaningful snapshot of demand after India opened the door to non-patented semaglutide. While Canada was the first country to lose semaglutide patent protection in January, regulators there haven’t approved any generics so far. 

 

It also offers an early sign of the rush to generics Lilly will face globally as semaglutide approaches patent cliffs elsewhere. The price war and surge in demand are being closely watched as patents for the blockbuster treatment expire in major emerging markets this year, with India a key test case for how quickly generics can erode a branded drug’s dominance.  

 

Mounjaro sales in March dropped to ₹114 crore ($12.3 million) in March from ₹135 crore a month earlier, Pharmarack data show. Lilly will lose exclusivity on the drug next decade.

 

This is a “gold rush phase” as generics come on board, said Sheetal Sapale, vice president of commercial at Pharmarack. Though Mounjaro still dominates the market in India, it’s taken a “major hit” following the launch of semaglutide copies, she said.

 

Representatives for Novo Nordisk and Eli Lilly didn’t immediately respond to requests from Bloomberg News for comment.

 

Torrent Pharmaceuticals Ltd. has emerged as the biggest local player in semaglutide after Novo, trumping rivals including Sun Pharmaceutical Industries Ltd. and Dr Reddy’s Laboratories Ltd. Torrent has an 8 per cent market share, while Novo still holds 70 per cent, according to Pharmarack. 

 

Indian drugmakers moved quickly after semaglutide’s patent expired on March 20, rolling out versions that cost as little as 1,290 rupees. Volumes of semaglutide drugs more than doubled in March compared to the month before, Pharmarack said. 

 

More aggressive launches are expected in the coming days, Sapale said, likely driving exponential growth in India’s weight-loss drug market. 

 

Novo has “held its ground well” so far due to its distribution and innovator moat, Sapale said. The company announced price cuts for Ozempic and Wegovy by as much as 48 per cent for some doses last month to widen access to the medication in India.