<span>STORY: Novo Nordisk and Eli Lilly are cutting prices of best-selling obesity drugs Wegovy and Mounjaro in China.</span><span>Novo did not provide details about the new prices.</span><span>However, media outlet Yicai had previously reported that list prices for the two highest dosages of Wegovy had fallen by 48% in some provinces in China.</span><span>The Danish drugmaker confirmed the price adjustment in a statement to Reuters.</span><span>Lilly did not immediately respond to a request for comment.</span><span>Prices for Lilly’s Mounjaro will also drop starting January 1, according to the WeChat account of a hospital in the eastern city of Nanjing late last week.</span><span>More than 65% of China’s population of approximately 1.4 billion could be overweight or obese by 2030.</span><span>And both drugmakers are competing with rivals in a fast-growing market.</span><span>They also face challenges after Novo’s patent on Wegovy’s active ingredient, semaglutide, expires in 2026 in China and other key markets.</span><span>Novo slashed Wegovy prices in India by up to 37% last month as it looks to gain ground in another fast-developing market.</span><span>Novo and Eli Lilly also agreed to lower U.S. prices in November.</span>
