Novo Nordisk halves Wegovy prices in parts of China as copycat competition looms

NEW YORK, December 29, 2025, 22:14 ET

• Novo Nordisk confirmed it is adjusting Wegovy prices in China after local media reported cuts of 48% for the two highest doses in Yunnan and Sichuan.
• The move comes ahead of a 2026 patent expiry for semaglutide, the active ingredient in Wegovy, as local rivals prepare competing versions.
• Bloomberg’s “Stock Movers” podcast said Novo shares slipped as the China pricing news circulated.

Novo Nordisk said it is lowering prices of its top-selling obesity drug Wegovy in China, after local outlet Yicai reported that list prices for the two highest doses were cut by 48% in the southwestern provinces of Yunnan and Sichuan. The new monthly list prices were 987 yuan ($141) and 1,284 yuan, Yicai said, citing local procurement authorities.

The price move matters because China is fast becoming a pivotal growth market for weight-loss medicines, and pricing is now moving to the center of competition. Drugmakers are trying to lock in patients and set benchmarks before cheaper alternatives arrive.

It also underscores how quickly the obesity-drug boom is shifting from supply constraints to price pressure. With patent protection nearing its end for key ingredients, companies are increasingly defending market share through discounts and wider access.

Novo did not disclose its new prices in its statement to Reuters, but said the adjustment aimed to reduce patients’ treatment burden and improve quality of life.

List price is the published “sticker” price before any discounts, subsidies or reimbursement. In China, those prices can influence hospital procurement and online pharmacy listings.

The company faces new threats as its patent on Wegovy’s active ingredient semaglutide expires in 2026 in China, the Reuters report said. Chinese drugmakers including CSPC Pharmaceutical Group and Hangzhou Jiuyuan Genetic Biopharmaceutical are developing their own versions, as others gear up to launch rival obesity treatments.

Bloomberg’s “Stock Movers” podcast flagged the China price cut as one factor weighing on the stock, saying shares of Novo Nordisk slipped after the report.

Wegovy is part of the GLP-1 class — drugs that mimic a gut hormone to help regulate blood sugar and curb appetite. That class has transformed obesity treatment but remains expensive for many patients without insurance coverage.

Novo’s price adjustment in China follows other recent cuts cited in the Reuters report, including reductions in India and a U.S. pricing agreement in November with rival Eli Lilly as both push deeper into cash-pay markets.

Chinese media have also pointed to broader discounting across the category. Cailian Press, in a report carried by Futu News, said a price-cutting wave by Novo and Lilly has been showing up on government procurement and e-commerce platforms, with transaction prices “nearly halving” compared with six months ago. “Trading price for market share is an inevitable outcome amid intensifying competition,” Zhao Heng, founder of healthcare strategy consultancy Latitude Health, told Cailian Press. Futu News

The next test for Novo will be whether the Wegovy cuts extend beyond a handful of provinces and how quickly competitors respond with their own pricing. For health officials, the question is how much lower prices can go while demand accelerates in a market facing rising obesity rates.