Danish pharmaceutical giant Novo Nordisk saw sales of its diabetes and obesity drugs, Wegovy and Ozempic, jump 40 percent in India during April following significant price reductions, Bloomberg News reports.
Sales rose to 32,000 units during the month, according to data from Pharmarack.
The company slashed prices for starter doses by 36 percent and 48 percent respectively as of April 1, bringing the price for both medications to 5,660 rupees, or approximately 60 dollars.
At the same time, the market for cheaper generic GLP-1 drugs is expanding rapidly, with prices starting at around 14 dollars per month. The overall market grew by 56 percent in April to 414,000 units.
India represents the first market where Novo Nordisk is facing generic competition for semaglutide, the active ingredient in Ozempic and Wegovy.
Novo Nordisk A/S specializes in the design, manufacture and marketing of pharmaceutical products. Net sales break down by family of products as follows:
- diabetes and obesity treatment products (93.7%);
- rare disease treatment products (6.3%): intended for the treatment of haemophilia, blood disorders, hormonal disorders, etc.
Net sales are distributed geographically as follows: Europe and Canada (21.4%), the United States (56%), Latin America/Middle East/Africa (9.9%), China/Hong Kong/Taiwan (6%), Asia/Pacific (6.7%).
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