Novo Nordisk has flagged growing generic competition in markets including India as a potential drag on its international business in 2026, highlighting rising pressure on branded obesity and diabetes therapies as semaglutide loses exclusivity in several countries.
The Danish drugmaker said it “still expects to experience an adverse impact on sales in 2026 from loss of exclusivity for the semaglutide molecule in certain markets in International Operations.”
Novo Nordisk specifically pointed to India, where competing companies introduced semaglutide generics during the first quarter.
“During Q1, semaglutide generics were launched in India by competing companies,” the company said in its first-quarter earnings report.
India has emerged as one of the earliest major markets globally to witness large-scale generic competition in semaglutide after the molecule’s patent expiry in March 2026. More than a dozen Indian pharmaceutical companies, including Sun Pharma, Dr. Reddy's Laboratories, Cipla and Zydus Lifesciences, have already launched semaglutide products targeting diabetes and obesity.
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According to Pharmarack data and industry estimates cited by market analysts, India’s GLP-1 market is currently valued at around ₹1,600 crore and is projected to expand to nearly ₹12,000 crore over the next five years following semaglutide patent expiry and generic launches.
“Despite India’s high obesity burden, therapy care remains in its infancy. Far from slowing down, India’s market is opening new opportunities to deliver innovation at scale and helping millions live healthier, longer lives,” Vikrant Shrotriya, Managing Director, Novo Nordisk India, told Business Today.
Shrotriya said more than 50 companies have already registered over 150 brands across different delivery devices and dose formats in India’s weight-loss drug market, creating “an environment overwhelmed with communication around doses, prices and formats, often leading to confusion.”
“The real challenge lies in the limited understanding of obesity as a disease. Our role has been to drive clarity and standardisation, ensuring consistent dosing and responsible pricing, while keeping education at the core of our strategy,” he said.
The entry of multiple Indian drugmakers is expected to intensify pricing competition in a market that had until recently been dominated by imported branded GLP-1 therapies. Analysts expect lower-cost generic versions to expand access for diabetes and obesity patients in India while increasing pressure on innovator companies.
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Globally, the GLP-1 market is estimated to exceed $70 billion in 2026, driven by soaring demand for obesity and diabetes therapies. Novo Nordisk said the “global GLP-1 market expansion” is expected to continue in 2026.
Novo Nordisk said the outlook for its International Operations business reflects “continued volume penetration from GLP-1 treatments and market expansion, mainly within obesity, as well as intensifying competition and negative impacts from the compound patent expiry of the semaglutide molecule in certain markets.”
International Operations sales increased 6% at constant exchange rates during the first quarter, driven by growth in Europe and Asia-Pacific markets, although the company said the performance was partly offset by weakness in emerging markets and China.
Globally, Novo Nordisk reported sales of DKK 96.8 billion (about ₹1.23 lakh crore) in the first quarter of 2026, while obesity care sales increased 22% at constant exchange rates.
The company said more than 45 million people globally are currently on Novo Nordisk's obesity and diabetes treatments, while the Wegovy pill has crossed more than one million patients since its US launch.
The company is simultaneously expanding its obesity portfolio globally. Wegovy pill, launched in the US in January 2026, has crossed two million prescriptions since launch, according to the company.
“Wegovy is driving a strong start to 2026 for Novo Nordisk, led by the rapid adoption of the Wegovy pill,” said Mike Doustdar, president and CEO of Novo Nordisk.
Novo Nordisk also said Wegovy has now been launched in more than 55 countries globally, while the company continues to expand newer obesity offerings and higher-dose semaglutide products.
Shrotriya said Novo Nordisk is now focusing on integrating obesity care into primary care while strengthening medical education around obesity treatment in India.
“As a science-driven healthcare company, we aim to bridge this awareness gap — integrating obesity care into primary care and strengthening medical education and understanding,” he said.
He added that Novo Nordisk’s GLP-1 portfolio is backed by “more than 50 robust clinical trials, 49 million patient-years of exposure, extensive real-world data, world-class rDNA manufacturing processes, state-of-the-art devices and delivery systems, and the highest safety standards.”
“In 2025, the World Health Organization added semaglutide to its Essential Medicines List, recognising its critical role in tackling the global health burden. This milestone reinforced the trust of doctors worldwide, and in India it has accelerated confidence in semaglutide as a transformative therapy,” Shrotriya said.
Novo Nordisk further added that while it expects the “global GLP-1 market expansion to continue”, growth would be “countered by lower realised prices” and increasing competition across markets.
“The coming months and years will be defined by two forces: the rising demand for effective therapies and the growing awareness of obesity as a disease. With our strong scientific foundation, trusted brands, and partnerships across the healthcare ecosystem, we see robust growth potential ahead,” Shrotriya said.
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