The Korean subsidiary of Denmark's Novo Nordisk announced on the 11th that it will lower the supply price of the obesity treatment Wegovy by up to 40%. This is interpreted as a response to Eli Lilly's decision to launch Mounjaro in the domestic market at a price 25% cheaper than Wegovy in mid-month. Price competition has begun in the domestic obesity drug market.
Wegovy is available in five dosages: 0.25 mg, 0.5 mg, 1.0 mg, 1.7 mg, and 2.4 mg. Previously, the price for a four-week supply was approximately 370,000 won for all dosages. Going forward, the supply price will be reduced by 10% to 40%, depending on the dosage. According to industry sources, the price of the 0.25 mg product will be lowered by 40%, making it approximately 220,000 won. High-dose products are said to have a lower reduction rate.
Earlier, Eli Lilly priced the domestic supply of Mounjaro at 278,000 won for a four-week supply of 2.5 mg. Since Mounjaro's launch in the domestic market is behind Wegovy, the strategy is to lower the price to capture the market. Wegovy has also lowered its price in response.
The prices disclosed by both companies are wholesale prices supplied to distributors. A Novo Nordisk pharmaceutical official noted, "The price borne by patients may vary depending on the prescribing medical institution."
Wegovy and Mounjaro are injectable medications that mimic the GLP-1 (glucagon-like peptide-1) hormone. Initially developed as a diabetes treatment to promote the secretion of insulin that regulates blood sugar, they have evolved into obesity medications due to their confirmed weight loss effects. The GLP-1 hormone is secreted from the small intestine after meals, increasing insulin production in the pancreas to lower blood sugar and inducing a feeling of fullness in the brain.