Mounjaro to land in Korea, setting off price war with Wegovy
Eli Lilly’s cut-price Mounjaro lands in Korea next week, ending Novo Nordisk’s domestic monopoly and igniting a price war in the weight loss drug market. In the face of Mounjaro’s debut, Wegovy is rolling out its first-ever tiered pricing in Korea, offering the steepest cuts on its lowest dosages.
An Eli Lilly Korea spokesperson confirmed Wednesday that prescriptions will be available for both the 2.5-milligram starting dose and the 5-milligram maintenance dose.
Tirzepatide, marketed globally as Mounjaro for diabetes and Zepbound for obesity, will be sold in Korea under the single brand name Mounjaro.
According to an exclusive report by Korean outlet News1 on Aug. 7, the domestic supply price for a four-week course of 2.5 milligrams for Mounjaro has been set at 278,000 won ($200) ? roughly 25 percent lower than rival Wegovy. The 5-milligram dose will be available for 369,000 won.
Soon after the report, Wegovy’s supply price was revised downward, with its lowest 0.25-milligram dose seeing a 40 percent cut. The new pricing takes effect Thursday. Previously, Wegovy charged a flat monthly supply price of 372,000 won for all dosages.
Novo Nordisk Korea denied that the move was triggered by Mounjaro’s entry.
“Switching from a single price to a tiered pricing system was the result of in-depth discussions for a considerable period to improve treatment accessibility,” a spokesperson said. “We place the highest priority on ensuring treatment continuity and accessibility for obesity patients in Korea.”
The move, however, is unprecedented as Wegovy has been sold at a flat supply price regardless of dosage strength globally.
With the new pricing, the supply price for the lowest dosage will drop sharply to 216,000 won, making it far more accessible than Mounjaro’s 2.5-milligram dose at 278,000 won. The supply price, which refers to what the pharmaceutical company charges distributors, may differ from the actual purchase price. For both drugs, when prescribed for weight loss treatment, insurance coverage does not apply, meaning patients must pay the full cost out of pocket.
With Mounjaro’s entry, multiple outlets including MoneyToday estimate that both drugs are expected to come down to between 200,000 to 300,000 won per month. Before, Wegovy prescriptions cost 400,000 to 500,000 per month.
It remains to be seen how Mounjaro’s arrival will reshape Korea’s weight loss drug market.
In the United States, Eli Lilly's incretin portfolio ? comprising both Mounjaro and Zepbound ? captured 57 percent of the market in the second quarter, while Novo Nordisk’s share slipped to 43 percent.
The most advanced domestic contender to challenge Wegovy or Mounjaro is Hanmi Pharmaceutical’s efpeglenatide, now in phase 3 clinical trials and aiming for a launch in the second half of 2026.
Efpeglenatide, a GLP-1 weight loss treatment described as “Korean-customized,” may not match the dramatic weight-loss results of foreign rivals but is formulated for slower release in the body to help reduce the gastrointestinal side effects that have hindered other GLP-1 drugs. Hanmi also cites blood sugar control along with potential cardiovascular and kidney-protective benefits as key differentiators.
Korea has one of the lowest adult obesity rates globally, according to World Health Organization data from 2022, with only 6.7 percent of adults with a body mass index of 30 or over, ranking the nation 174th.