Novo Nordisk Shares Down 43% in a Year as Generic Rivals Force 48% Price Cuts

Novo Nordisk cut prices of Wegovy and Ozempic by up to 48% in India effective April 2026 in response to low-cost generic semaglutide flooding the market. The steep discounts indicate meaningful pricing pressure in India that could reduce Novo Nordisk's revenue and margins in that market and may signal wider competitive pricing risk as generics expand. Monitor Indian sales, market-share shifts, and potential spillover effects to other markets and guidance.

Analysis

Novo Nordisk cut prices of Wegovy and Ozempic by up to 48% in India effective April 2026 in response to low-cost generic semaglutide flooding the market. The steep discounts indicate meaningful pricing pressure in India that could reduce Novo Nordisk's revenue and margins in that market and may signal wider competitive pricing risk as generics expand. Monitor Indian sales, market-share shifts, and potential spillover effects to other markets and guidance.