Toronto: US drugmaker Eli Lilly has decided to cut the prices of its popular diabetes and weight loss medicines in Canada in a move aimed at improving access for patients and responding to rising competition in the fast growing obesity drug market.
According to reports cited by Reuters the company will reduce the list prices of Mounjaro and Zepbound in Canada starting December 29. A four week supply of the 2.5 mg and 5 mg doses will be priced at about 300 Canadian dollars while higher doses of 7.5 mg and 10 mg will cost around 420 Canadian dollars. This represents a price cut of roughly 20 percent or more compared with earlier prices.
These medicines are widely used for type 2 diabetes and weight loss and have seen strong demand in several countries. In Canada patients and advocacy groups have long raised concerns about high costs especially for people without comprehensive insurance coverage. The price reduction is expected to ease some of that burden and allow more patients to continue treatment.
The move in Canada follows similar steps taken by Eli Lilly in the United States earlier this month where the company lowered prices for cash paying customers. Industry observers see this as part of a broader shift as drugmakers face pressure from governments insurers and the public to make breakthrough medicines more affordable.
Competition in the weight loss drug market has intensified with rival companies pushing forward new treatments and higher dose versions of existing drugs. This has increased pressure on manufacturers to balance profits with access especially as demand continues to rise sharply.
Eli Lilly has not issued a detailed public statement on the Canadian price cuts but analysts say the decision reflects a strategic effort to maintain market share while responding to affordability concerns. With several next generation weight loss drugs in development the company appears to be preparing for a more competitive and price sensitive market in the years ahead.
For Canadian patients the change is being welcomed as a positive step that could improve long term access to medicines that are increasingly seen as life changing for people living with diabetes and obesity.