Eli Lilly announced that the list price of its obesity drug Mounjaro will be lowered in China, with the new pricing taking effect on January 1, 2026. The company’s new list price is 445 yuan (about $63) for a 10‑mg injector pen, compared with the previous 2,180 yuan (≈ $310) price, representing a discount of roughly 79 percent.
The price cut is part of a broader strategy to defend market share in a rapidly expanding obesity‑drug market that is becoming increasingly competitive. Novo Nordisk has also reduced the price of its Wegovy pen in China, and the company’s semaglutide patent is set to expire in March 2026, opening the door to domestic generic competition. By lowering its price, Lilly aims to keep Mounjaro attractive to payers and patients while countering the impact of generic entry and price‑cutting by rivals.
China’s obesity rates are projected to reach 65 percent of the population by 2030, and the drug has been added to the national health insurance reimbursement list as of January 1, 2026. The new pricing, coupled with the insurance listing, is expected to broaden access for type‑2 diabetes patients and increase volume. However, the steep discount will compress margins, and Lilly will need to rely on scale and cost efficiencies to maintain profitability.
Eli Lilly has been investing in online sales channels, including a partnership with JD Health, to improve patient access in a market where weight‑loss treatments are not covered by national insurance. The company’s strategy to expand digital distribution is intended to offset margin pressure from the price cut while capturing a larger share of the growing market. Management has emphasized that the pricing adjustment is a long‑term investment in market penetration rather than a short‑term revenue squeeze.
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