Will Korean companies join in on the sales of obesity drugs?

Sales competition for Mounjaro and Wegovy intensifies

Mounjaro adds 30 medical representatives... prepares a Large-scale launch symposium

Is currently planning to sell the drug on its own, but rumors of Lilly’s plan to forge a partnership for sales with domestic pharmaceutical companies persist.

Wegovy responds with up to 40% reduction in supply price; Chong Kun Dang a possible candidate for joint sales

With the domestic launch of the GLP-1 class obesity treatment Mounjaro (tirzepatide) near, its sales and marketing competition with Wegovy (semaglutide) is already heating up.

 

Lilly has completed preparations for the launch by hiring over 30 additional medical and marketing representatives to handle sales of Mounjaro.

 

Additionally, the possibility of joint sales with domestic pharmaceutical companies is being raised.

 

Novo Nordisk has countered by reducing the domestic supply price of Wegovy by up to 40%.

 

Their discussions on joint sales with Chon Kun Dang are also reportedly ongoing.

 

Mounjaro to be released next week, adds 30 sales staff...

 

Large-scale launch symposium announced According to industry sources on the 14th, Lilly's Mounjaro will be distributed in Korea starting next week.

 

Lilly recently sent a notice to major domestic distributors stating that its supply will begin on the 18th.

 

Hospitals and clinics are expected to receive the product two days later on the 20th.

 

Given the product's record-breaking sales abroad, Lilly Korea is also highly anticipating its launch.

 

In preparation for the launch of Mounjaro, Lilly has hired over 30 additional employees dedicated to sales and marketing for the product.

 

A large-scale launch symposium is also planned.

 

Lilly intends to hold an in-person symposium on the 25th and 26th, followed by an online symposium on the 27th.

 

The company has gone to great lengths to invite Bruno Halpern, the next president of the World Obesity Federation and chief director of the Obesity Centre of Hospital 9 de Julho, São Paulo in Brazil, as a keynote speaker.

 

For now, Lilly Korea plans to directly sell Mounjaro, but the possibility of joint sales with domestic pharmaceutical companies remains open.

 

In the pharmaceutical industry, one major domestic pharmaceutical company is consistently coming up as a potential joint sales partner for Mounjaro.

 

There is speculation that the product may be launched under Lilly directly, then potentially transition to joint sales in the future.

 

The company plans to actively promote Mounjaro's higher weight loss efficacy compared to Wegovy.

 

Mounjaro demonstrated superior weight loss efficacy in the SURMOUNT-5 clinical trial, a head-to-head trial that compared Mounjaro with Wegovy.

 

In the trial, the average weight loss rate at week 72 in the Mounjaro treatment group (10mg or 15mg) was 20.2%, compared to 13.7% in the Wegovy treatment group (1.7mg or 2.4mg), demonstrating a relatively improved weight loss rate.

 

There is also high anticipation in the medical community.

 

A hospital search application is promoting “how to book the lowest-priced hospital for Mounjaro.” Numerous posts promoting advance reservations for Mounjaro are also searchable on major portals and social media platforms.

 

A representative from Lilly Korea stated, “Based on our global experience with the launch of Mounjaro in various countries and our deep understanding of the domestic market accumulated over more than 40 years, we will do our best to help patients with diabetes and obesity in Korea lead better lives with Mounjaro.” Wegovy’s domestic supply price reduced by up to 40% in response...Possibility of joint sales with Chong Kun Dang Ahead of the official launch of Wegovy, Novo Nordisk has responded with a price reduction for Wegovy.

 

Novo Nordisk announced that it will reduce the price of Wegovy by up to 40% starting from the 14th.

 

Excluding the highest dosage of 2.4mg, the prices will be reduced by 40% for 0.25mg, 30% for 0.5mg, 20% for 1.0mg, and 10% for 1.7mg.

 

The price of 0.25mg, which will be reduced by 40%, is expected to be between KRW 200,000 and 220,000.

 

This is analyzed as securing price competitiveness compared to Mounjaro.

 

The supply prices for Mounjaro are ▲2.5 mg KRW 278,066, ▲5 mg KRW 369,307, and ▲7.5 mg and 10 mg KRW 521,377.

 

The 2.5 mg and 5 mg doses will be initially supplied to Korea.

 

The possibility of joint sales with Chong Kun Dang continues to be raised.

 

Its possibility of partnering with Chong Kun Dang for Wegovy’s sales has also been consistently raised.

 

Novo Nordisk and Chong Kun Dang have been in discussions regarding joint sales of Wegovy up until recently, and it is reported that they are nearing a final decision.

 

However, both companies have drawn the line, saying that “nothing has been finalized yet.” If Chong Kun Dang is confirmed as a co-promoter for Wegovy and Mounjaro also signs a contract with a domestic pharmaceutical company, the competitive landscape is expected to expand from a head-to-head battle between two multinational pharmaceutical companies to include domestic pharmaceutical companies as well.

 

The pharmaceutical industry is closely watching how quickly Mounjaro can catch up to Wegovy, which has effectively dominated the market.

 

Wegovy quickly dominated the obesity treatment market after since launch in Korea in October last year.

 

According to pharmaceutical market research firm IQVIA, Wegovy recorded sales of KRW 79.4 billion in the first quarter of this year.

 

Wegovy's market share in the overall obesity drug market reached 73.2%.

 

Wegovy surged to the top of the obesity drug market with sales of KRW 60.3 billion in the fourth quarter of last year, immediately after its launch.

 

Wegovy has also contributed to the expansion of the market size.

 

Prior to its launch in the third quarter of last year, the domestic obesity treatment market size was only KRW 47.4 billion, but it expanded to KRW 93.8 billion in the fourth quarter of last year, nearly doubling in just over three months.