In ten days after less-expensive generic versions of semaglutide entered the fray – the marketplace shows that Eli Lilly’s obesity drug Mounjaro continues to hold pole position, but has ceded ground to the generic versions of semaglutide, besides the innovator’s own products used in treating weightloss and diabetes.
Semaglutide is the active ingredient in Danish company Novo Nordisk’s Ozempic (for diabetes) and Wegovy (obesity), and it lost patent protection in India and some other markets on March 20, paving the way for a slew of domestic products to enter the market - at prices down between 50 to 80 per cent of the innovator’s price; and in multiple delivery forms (vials, resuable pens, oral drugs) and strengths.
Tirzepatide (brand Mounjaro) dominates the segment, but seems to have taken “a major hit” due to the semaglutide generics launch, observed Sheetal Sapale, Vice-President, Commercial, at Pharmarack Technologies. American company Eli Lilly’s Mounjaro is more expensive than semaglutide, but has been leading this segment for months, since launch in March 2025.
The domestic GLP-1 agonist segment (covering these obesity and diabetes drugs) is almost ₹1,600 crore, for the 12 months up to March 2026, the pharma industry tracker said.
Mapping the fluctuating fortunes of these medicines, Pharmarack said, Tirzepatide clocked sales of ₹114 crore in March, down from ₹135 crore in February 2026. Semaglutide posted sales of ₹59 crore in March, up from last month’s ₹48 crore. The dip in Tirzepatide sales also brought down GLP-1 drug sales in March to ₹180 crore, from last month’s ₹191 crore. Others in the same segment remain unchanged - Dulaglutide clocked ₹5 crore in March, same as the previous month; and Liraglutide posted ₹3 crore in March, same as February’s sales, the data tracker revealed.
‘Gold rush phase’
About 13 companies launched 26 versions of generic semaglutide, and more are in the pipeline, said Sapale, adding that only a handful will leverage the branded generics opportunity.
So while innovator Novo lead the semaglutide sales in March at ₹45 crore with Ozempic, Wegovy and oral drug Rybelsus – the generic semaglutide brands debuting included Torrent Pharma (₹4.7 crore), Dr Reddy’s Laboratories (₹1.9 crore), Zydus Lifesciences (₹1.4 crore), Lupin (₹1.4 crore) and Sun Pharma (₹0.90 crore). “This is a classic ‘gold rush phase’—participation is high, but value capture will be concentrated,” she noted.
As these products become accessible, the Centre cautioned that GLP-1 drugs are break-through products, but have side-effects, and should be given on prescriptions and to eligible patients. “Misuse/unwanted use may be difficult to arrest,” said Sapale, adding that regulations may refine the market, but was unlikely to derail the initial growth of generics. More “aggressive launches” are expected and the “exponential growth” may repeat in April 2026, she said.
Novo Nordisk stood its ground in the initial phase, with “innovator driven efficacy, increased share of voice due to partnerships with Emcure and Abbott”, she said, adding that pegging the price of its products at par with some key generics may play a significant role in future for the innovator.
Published on April 9, 2026