05:22 AM EDT, 04/10/2026 (MT Newswires) -- (Updates with Eli Lilly's ( LLY ) response in the seventh paragraph.)

Cheap generic versions of semaglutide in India are beginning to erode the dominance of Eli Lilly's ( LLY ) tirzepatide-based Mounjaro, Bloomberg reported Thursday.

According to the report, semaglutide's share of India's GLP-1 segment rose to 33% in March from 25% a month earlier after dozens of generic versions entered the market following the local patent expiry of Novo Nordisk's ( NVO ) blockbuster therapy.

Over the same period, tirzepatide's share dropped to 64% from 71%, the report said, citing Pharmarack data.

Mounjaro sales declined to 1.14 billion Indian rupees ($12.3 million) in March from 1.35 billion rupees in February, Bloomberg reported. Generic semaglutide is now available for as little as $14 per month, it added.

A Novo Nordisk ( NVO ) spokesperson told MT Newswires that the company welcomes "generics that will help to reduce the burden of obesity and diabetes in our society."

"The inclusion of semaglutide on the World Health Organization Essential Medicines List further supports the health benefits of this innovative treatment," the Novo Nordisk ( NVO ) representative added.

Eli Lilly ( LLY ) declined MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)