"We believe this pricing adjustment in China will further help alleviate the treatment burden for patients and improve their quality of life."
Lilly did not immediately respond to a request for comment.
Prices for Lilly's Mounjaro would also decrease from January 1, according to a WeChat account for a hospital in the eastern city of Nanjing posted late last week. It did not say how much prices would be slashed.
A platform for China's leading food delivery group Meituan listed a 10mg Mounjaro injector pen at a projected cost of around 445 yuan ($63), down from 2,180 yuan.
Over 65% of China's population of around 1.4 billion could be overweight or obese by 2030, making it a rapidly growing market for weight-loss drugs.
Both drugmakers are competing with rivals including Innovent Biologics 1801.HK and face the prospect of further competition after Novo's patent on Wegovy's active ingredient semaglutide expires in 2026 in China and some other important markets.
Chinese drugmakers, including CSPC Pharmaceutical Group and Hangzhou Jiuyuan Genetic Biopharmaceutical Co are developing their own versions of the drug.
Yicai, citing local procurement authorities, had reported that the Novo price cuts would be made in the southwestern Chinese provinces of Yunnan and Sichuan.
Novo slashed Wegovy prices by up to 37% in India last month, as it looks to gain ground in another fast-emerging market for obesity treatments. Novo and U.S. rival Eli Lilly - both shifting towards cash-paying consumers - also agreed to cut U.S. prices in November
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.