Obesity Treatment Drug Price Competition Intensifies

Novo Nordisk has decided to reduce the shipment price of its obesity treatment drug 'Wegovy' by up to 40%. This strategic move appears to come in response to the impending domestic launch of its competitor Eli Lilly's 'Mounjaro'.

According to industry sources on the 12th, Novo Nordisk plans to apply a price reduction of 10-40% for Wegovy, which contains the active ingredient semaglutide, differentiated by dosage, later this month.

Previously, all dosages (0.25mg, 0.5mg, 1.0mg, 1.7mg, 2.4mg) were supplied uniformly at approximately 370,000 won per pen, but now different pricing policies will be applied for each dosage.

In particular, the starting dosage of 0.25mg will see the largest reduction of about 40%, adjusting the price to the 220,000 won range.

The dosage increments of 0.5mg and 1.0mg will be lowered by 10-20% to a price range of 290,000 won to 330,000 won, while the 1.7mg dosage will be priced in the 330,000 won range with a reduction of about 10%. The maximum dosage of 2.4mg will maintain the existing price of 370,000 won.

Intensified Competition in the Obesity Treatment Drug Market

With these price adjustments, Wegovy is expected to be significantly cheaper than Mounjaro, the competing product that will be launched soon.

Eli Lilly's Mounjaro (tirzepatide) is scheduled for domestic release on the 18th of this month, with the starting dosage (2.5mg, 4-week supply) priced at approximately 280,000 won, the maintenance dosage (5mg, 4-week supply) below 370,000 won, and the high-dose product set at around 500,000 won.

As the latecomer Eli Lilly attempts to enter the market with relatively lower prices, the leading company Novo Nordisk is also responding with price reductions, generally easing the economic burden on consumers.

However, it should be noted that these prices are based on wholesale prices that pharmaceutical companies supply to distributors, so the final price paid by patients at medical institutions or pharmacies may differ.

A representative of Novo Nordisk stated, "We prioritize the treatment continuity and accessibility of Korean obesity patients when supplying innovative treatments like Wegovy." Furthermore, they added, "We believe that reducing the health burden of obesity treatment will help improve patients’ quality of life, and we will continue our efforts to improve the obesity treatment environment in Korea through a patient-centered approach."

Image Source: Wegovy / Novo Nordisk, Mounjaro / Eli Lilly Korea