Stock surge for Eli Lilly Corporation today
In the competitive landscape of the Indian obesity and diabetes treatment market, Eli Lilly's Mounjaro is making significant strides, outperforming Novo Nordisk's Wegovy.
Just a few months after its launch, Mounjaro has captured 8% of India's GLP-1 market and generated ₹50 crore in sales during its first three months. This strong urban middle-class demand is evident in the product's impressive average weight loss efficacy of 23%, outperforming Wegovy’s 15%.
Mounjaro's monthly sales surged from ₹3 crore at launch to ₹47 crore in July 2025, with cumulative sales reaching ₹98 crore by that month, indicating rapid growth in market penetration.
Eli Lilly's strategic advantages are clear. The company's lower pricing, extended patent protection, and availability in a flexible six-dose KwikPen format are making Mounjaro more accessible and attractive to consumers. Local manufacturing and partnerships further enhance the company's supply chain and healthcare presence.
The Indian GLP-1 receptor agonist market is expanding rapidly, growing at a compound annual growth rate (CAGR) of 46% since 2021. Projections suggest that this market will exceed $100 billion by 2030. In this context, Mounjaro is poised to lead the market race, with a projected 60% market share edge over Wegovy by 2027.
The starting price for a 2.5 mg dose of Mounjaro in India is $160, while the price for the highest permissible dose (15 mg) is approximately $315. On the other hand, the lowest dose of Novo Nordisk's Wegovy in India is priced at $200, with the highest priced at approximately $300.
Carter Gould, a Cantor Fitzgerald analyst, has lowered his price target on Lilly stock to $825, while still considering it a buy. However, his analysis does not address the comparison between Mounjaro and Wegovy in terms of weight loss efficacy or dosage. He does advise that we may not know whether orforglipron is a success before late 2026.
In conclusion, Eli Lilly's Mounjaro is disrupting the obesity and diabetes treatment market in India and is positioned to significantly outcompete Novo Nordisk’s Wegovy in market share through at least 2030. The company's strategic advantages, coupled with a rapidly growing market, make Mounjaro a formidable player in the Indian healthcare landscape.
[1] India Medical Times [2] The Economic Times [3] Bloomberg [4] Reuters [5] Business Standard
