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Eli Lilly’s Mounjaro Enters India’s Booming Diabetes and Obesity Drug Market Amid Rising Competition

Eli Lilly, whose global revenue from Mounjaro surged 60% year-on-year to $3.53 billion in Q4 2024, has yet to announce domestic partnerships for marketing the drug. As competition intensifies, the battle for dominance in India’s obesity and diabetes treatment sector is just beginning.

• By Pooja Chaturvedi Sah
• New Delhi
• Mar 24, 2025

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U.S.-based pharmaceutical major Eli Lilly and Company has officially launched its diabetes and obesity management drug, Mounjaro (tirzepatide), in India on 20th March. The company received marketing authorization from the Central Drugs Standard Control Organisation (CDSCO) and has introduced the drug in a single-dose vial format, targeting a fast-growing market for weight-loss and diabetes treatments.

A New Contender in the GLP-1 Drug Segment

Mounjaro, which is administered once a week, works by activating both glucose-dependent insulinotropic polypeptide (GIP) and glucagon-like peptide-1 (GLP-1) hormone receptors. The drug has demonstrated significant weight-loss effects, with clinical trials showing patients losing an average of 21.8 kg on the highest dose (15 mg) and 15.4 kg on the lowest dose (5 mg) over 72 weeks, when combined with diet and exercise.

With a price tag of ₹3,500 for a 2.5 mg vial and ₹4,375 for a 5 mg vial, monthly treatment costs could range between ₹14,000 and ₹17,500, depending on dosage. In comparison, the drug’s U.S. pricing is significantly higher at approximately $1,000–$1,200 (₹86,000–₹1 lakh) per month.

India’s Growing Demand for Anti-Obesity and Diabetes Drugs

The launch comes amid a surge in demand for GLP-1 class drugs in India, a market projected to reach billions in value. Currently, Novo Nordisk’s oral semaglutide, Rybelsus, dominates the segment, holding nearly 65% of the anti-obesity drug market alongside other medications like dulaglutide, orlistat, and liraglutide.

According to Pharmatrac data, India’s anti-obesity drug market has expanded rapidly, growing from ₹137 crore in November 2020 to ₹535 crore in November 2024. The diabetes drug market alone was estimated at ₹17,000 crore last year, reflecting the increasing burden of lifestyle diseases in the country.

With approximately 101 million Indians living with diabetes and nearly 40 million currently on medication, the demand for effective treatments is at an all-time high. Additionally, obesity is becoming a critical health concern, with around 100 million adults affected as of 2023. Studies project that by 2050, this number could reach 450 million.

Lilly Faces Competition as Generics Loom

Despite its first-mover advantage, Eli Lilly is set to face intense competition in India. Novo Nordisk’s semaglutide (marketed as Ozempic) is set to go off-patent in 2026, paving the way for Indian pharmaceutical companies like Cipla, Dr. Reddy’s, Lupin, Natco Pharma, Mankind Pharma, and Biocon to launch more affordable generic versions.

Meanwhile, Sun Pharmaceutical Industries, India’s largest pharma company, is reportedly developing its own GLP-1 drug, which could further disrupt the market. The grey market has also played a role in the rising popularity of GLP-1 drugs, with unauthorized versions of Ozempic and Mounjaro being widely used.

Experts Weigh In on the Potential and Risks

Medical experts acknowledge the benefits of GLP-1 receptor agonists in managing diabetes and obesity but caution against viewing them as a standalone solution. According to Dr. Manish Mistry, Senior Medical Director at Lilly India, Mounjaro provides a new approach to metabolic health management, offering healthcare providers an advanced treatment option. However, he emphasized the need for sustained medical supervision and lifestyle changes.

Dr. Mukherjee Madivada, a senior cardiologist, echoed similar sentiments, stating on X (formerly Twitter), “These drugs are not a magic bullet. When used correctly with lifestyle modifications, they can be effective. But stopping treatment could lead to weight regain. Patients should always follow medical advice.”

India’s Expanding GLP-1 Market

India’s market for GLP-1 drugs is poised for exponential growth. A 2024 British Medical Journal report estimated that the market doubled to $3.6 billion last year. Investment firm Goldman Sachs predicts the global GLP-1 drug market will surpass $100 billion by 2030, with India playing a significant role in this expansion.

Eli Lilly, whose global revenue from Mounjaro surged 60% year-on-year to $3.53 billion in Q4 2024, has yet to announce domestic partnerships for marketing the drug. As competition intensifies, the battle for dominance in India’s obesity and diabetes treatment sector is just beginning.