Semaglutide's patent just expired in India. The molecule behind Novo Nordisk's blockbuster obesity drugs, Ozempic and Wegovy, is now fair game for generic manufacturers. An 85 to 90% price drop is expected.

Eli Lilly's Mounjaro had already been outselling Wegovy.

For most companies, this would be the beginning of an exit. But Novo is doing the opposite. Why?

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