Danish drugmaker Novo Nordisk (NVO) launched its blockbuster diabetes treatment Ozempic (semaglutide injection) in India at an entry price of $24.35 per week (2,200 rupees) for a 0.25 milligram dose.
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Novo Nordisk Seeks Further Growth in India
Novo Nordisk’s Ozempic will be sold in India in pen format in 0.25 mg, 0.5 mg, and 1 mg doses. Monthly prices are 8,800 rupees for 0.25 mg, 10,170 rupees for 0.5 mg, and 11,175 rupees for 1 mg, with each pen comprising four weekly doses.
Ozempic, which was approved in the U.S. in 2017 for Type 2 diabetes, is highly popular globally and widely used off-label as an anti-obesity treatment. Novo Nordisk’s Ozempic faces competition in India from Eli Lilly’s (LLY) Mounjaro, which is approved for weight loss and diabetes.
Meanwhile, Novo Nordisk’s Wegovy, which is also based on semaglutide, was rolled out in the Indian market in June. Interestingly, last month, Novo slashed Wegovy’s price by up to 37% to boost its sales. Moreover, the company made this strategic move ahead of semaglutide’s patent expiry in March 2026, which will subject it to competition from generics.
India is a key market for diabetes and weight loss drugmakers, given the country’s huge population and huge demand for GLP-1 drugs amid rising metabolic health disorders. With diabetes affecting over 100 million Indians, the Asian country presents a massive growth opportunity for Novo Nordisk and rival Eli Lilly.
Is NVO Stock a Buy, Sell, or Hold?
Wall Street has a Moderate Buy consensus rating on Novo Nordisk stock based on five Buys, four Holds, and one Sell recommendation. The average NVO stock price target of $55.25 indicates about 10% upside potential.
