Novo Nordisk launched Ozempic in India on Friday, pricing the 0.25mg dose at $24.35 per week and targeting a booming diabetes and obesity market expected to power industry growth this decade.

Ozempic will be sold in pen format in 0.25mg, 0.5mg and 1mg doses, Novo said. Monthly prices are 8,800 rupees for 0.25mg, 10,170 rupees for 0.5mg and 11,175 rupees for 1mg, with each pen covering four weekly doses.

"The price will serve as a benchmark for generic launches expected next quarter... Would look at 50% discount to Novo prices," said Vishal Manchanda, an analyst at Systematix Institutional Equities.

India has the world’s second-largest population of type 2 diabetes patients after China and rising obesity rates, making it a key battleground for weight-loss and metabolic drugs. Analysts expect the segment to reach $150 billion annually by decade-end.

Ozempic, approved in the United States in 2017 for type 2 diabetes, has become a global bestseller and is widely used off-label for weight loss. Novo said it also reduces the risk of cardiovascular events and kidney issues.

The drug can be prescribed only by endocrinologists or internal medicine specialists and is not intended for cosmetic use, said Shashank Joshi, consultant endocrinologist at Mumbai-based Lilavati Hospital.

"Ozempic also helps people with weight loss of up to 8 kilograms in people with diabetes... So, this medication has benefits beyond glycemic control," said Novo Nordisk India head Vikrant Shrotriya.

Novo faces competition from Eli Lilly, whose Mounjaro is approved for diabetes and weight loss, while Novo’s Wegovy, which also uses semaglutide, was launched in India in June. Last month, Novo cut Wegovy's price by up to 37% ahead of semaglutide’s March 2026 patent expiry.

"We realised just after a couple months that for accessibility, we had to take a price cut," Shrotriya said.

Indian drugmakers, including Sun Pharma, Cipla, Dr. Reddy’s and Lupin, are racing to develop semaglutide generics.