India’s weight-loss drug market is on the verge of a price shake-up.
In days, domestic drugmakers are set to launch cheaper versions of semaglutide, the GLP-1 (glucagon-like peptide-1) therapy popular globally for weight management, following the drug’s patent expiry in the country on Friday, 20 March. Or, tomorrow.
The move is expected to cut prices by roughly half, broaden access, and spark intense competition in what could become one of India’s fastest-growing therapy segments.
Originally developed by to treat type-2 diabetes, semaglutide, delivered in an injection, has gained global attention for its weight-loss benefits. The drug is sold under brand names Ozempic, Wegovy and Rybelsus (oral pill) by the Danish pharma giant.
With patent protection expiring, companies including Dr. Reddy’s Laboratories, Zydus Lifesciences, Sun Pharmaceutical Industries, and Alkem Laboratories are preparing day-one launches of generic versions at significantly lower costs.
Analysts estimate these generics could cost between ₹3,000–4,000 per month, less than half compared to Novo’s Ozempic, priced at ₹8,800 for the starting 0.25 mg dose. Even with initial adoption focused on higher-income segments, the potential market could reach over ₹5,000 crore, driven by India’s large and increasingly overweight population.
Market scale
The market, with sales of patented drugs already over ₹1,400 crore as of February 2026, is expected to grow 5x in the next five years, according to CareEdge Ratings.
According to healthtech platform Pharmarack, more than 50 brands could enter the market post-patent expiry.
The initial wave of launches is expected from five to six companies between March 2026 and Q1FY27, with broader rollouts likely in the second half of next financial year, a recent report by CareEdge Ratings stated, adding that aggressive price cuts by innovator companies could likely squeeze margins for generic players.
“It is a large pie, and everyone wants a piece,” a top executive at a pharma company, who did not wish to be quoted, told Mint.
Naturally, are moving quickly. Several companies have either announced brand names or indicated plans to launch their versions of semaglutide immediately after regulatory pathways open up.
Natco Pharma has tied up with Eris Lifesciences, while is collaborating with Lupin and Torrent Pharmaceuticals to combine manufacturing and distribution strengths.
Smaller firms are taking a more measured approach. “We are not planning a day-one launch, as our development and stability studies are currently underway. We are targeting a Q3 launch and prefer a calibrated entry rather than rushing into a highly competitive market immediately post-patent expiry,” Saurabh Agarwal, director at HAB Pharma told Mint.
India is among the most attractive markets for GLP-1 drugs, driven by rising obesity and diabetes prevalence. Roughly one in three adults has a high BMI (over 25), and by 2030, an estimated 404 million Indians are expected to fall into this category.
BMI stands for body mass index, and is a metric widely used to categorize individuals as underweight, normal weight, overweight, or obese.
Separately, over 101 million people in India are living with type-2 diabetes, according to the ICMR–INDIAB study (2023).
Marketing push
Companies are already sharpening their strategies in anticipation of intense competition.
Zydus is focusing on differentiation through a multi-use injection pen designed for ease of use. Meanwhile, is setting up a dedicated obesity division and plans to launch ‘Mankind Nutrition’ with a specialized field force.
Given that semaglutide is a prescription drug, companies will have to rely on doctors for access to customers. Some companies are targeting various specialties and segments, apart from diabetes. Additionally, anticipating aggressive promotion, India’s apex regulator has moved to curb ‘surrogate advertising’ for GLP-1 drugs.
“Mankind Pharma will focus not only on diabetes but also on building its presence across specialties such as cardiology, gynaecology where therapies like semaglutide have growing relevance…This is not about a single product launch, but about helping open and shape a new chronic care category in India,” Mankind Pharma managing director Rajeev Juneja said.
Mumbai diabetologist Dr Rajiv Kovil said companies with strong presence in insulin and injectable therapies—such as Eris Lifesciences and Lupin—may have an edge over others.
Innovator hold
The influx of generics, however, does not spell doom for innovator brands.
“Patients already onboarded on innovators will not shift as they belong to the affording class,” said Pharmarack vice president Sheetal Sapale.
Emcure Pharmaceuticals, which distributes the drug in an exclusive partnership with Novo Nordisk under the brand Poviztra, is banking on the innovator molecule being a biologic, as well as its device and brand recollection among doctors for this. The Novo drug is also sold as Extensior by Abbott.
Since the innovator drug is a biologic—97% similar to natural body chemicals and enzymes—it may continue to be preferred by specialists for its efficacy, tolerability and side effect profile. Generics are synthetic versions.
However, the entry of generics will expand the market to consulting and general physicians, and a wider population which is more price sensitive.
“I don’t have any qualms on saying that the quality of these companies (generics) will be good because for the first time they are putting the money on production and capacity building 2-3 years before the patent expires,” Dr Kovil said.
Dr Reddy’s Laboratories, for instance, has invested over ₹1,000 crore in capacity.
While affluent patients may continue to prefer innovator brands, “the larger middle class which actually rations out and budgets their monthly expenditure, this (generics) will be a big boon for these patients,” Dr Kovil added.