Zerodha’s Nithin Kamath says India’s response to available weight loss drugs is “strange”. Here’s why | Today’s news
Weight loss drugs have emerged as one of the biggest trends in healthcare worldwide, but India seems to be charting a different course. Despite obesity rates rising and generic versions of GLP-1 drugs becoming significantly more affordable, Indian consumers are not adopting these treatments as quickly as many expected.
Zerodha co-founder Nithin Kamath recently highlighted the trend, saying he was surprised that sales of generic GLP-1 drugs didn’t pick up after the patents expired, making them more affordable. His remarks were in response to a report by The Economic Times that said “domestic drugmakers, which entered the generic semaglutide market with ambitious first-year sales targets, are quietly lowering sales targets.”
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Nithin Kamath Questions Slow uptake of GLP-1 drugs in India
Sharing his views on X, Mr Kamath said he expected demand for generic GLP-1 drugs to surge once prices come down. According to him, these drugs are now standing around ₹1,000 to ₹2,500 per month, making them cheaper than many gym memberships. But reports suggest drugmakers have cut their sales estimates by 25 to 30 percent, signaling weaker-than-expected demand.
The tweet read: “India is a special market. With obesity rates on the rise, I’d bet generic GLP-1 sales will explode once their patents expire. Now worth about ₹1,000-2,500 per month, and growing evidence points to benefits far beyond weight loss, including cardiovascular, metabolic, and liver health.
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Yet generic drug makers are quietly reducing their sales targets by 25-30%. On ₹1000-2500 per month, it’s cheaper than a gym membership. The real problem seems to be retention. GLP-1s are injectable and you have to take them. If you stop, you will regain the weight you lost. Asking someone to stay for a weekly injection indefinitely seems to be a much harder sell.
A few other friction points:
For various reasons, Indians have not embraced GLP-1 with the same enthusiasm as the Western population. Could it be that Indian doctors are conservative in prescribing newer drugs?
Self-injection is a pain and a drag for most people, and inertia can prevent them from getting started.
Now that there are GLP-1 pills, I wonder if the adoption curve will change.”
“Cheaper than a gym membership” but sales targets are falling
According to Mr. Kamath, pricing may not be the biggest hurdle. Instead, he believes the problem lies in keeping patients on treatment for a long time.
Commonly prescribed for diabetes and weight management, GLP-1 drugs generally require regular injections. Patients often need to continue taking the medication to maintain the weight loss benefits, as stopping treatment can lead to regaining the lost weight.
“Asking someone to stay on a weekly injection indefinitely seems to be a much harder sell,” Mr. Kamath noted.
Conservative prescribing and weekly injections may hinder acceptance
Co-founder Zerodha also pointed to what he believes are other factors contributing to the slower uptake of GLP-1 drugs in India.
One possibility, he suggested, is that doctors in India may be more cautious about prescribing newer drugs than their counterparts in Western countries, limiting the number of patients starting these therapies.
Mr Kamath also highlighted the discomfort of self-injection as another potential barrier.
“Self-application is a pain for most people, and that friction and inertia can keep them from getting started,” he wrote.
Can diet pills change the trend?
Mr Kamath also wondered whether oral GLP-1 drugs might encourage more people to opt for the treatment. As pill-based alternatives are available, patients hesitant about weekly injections may find them more convenient.
His comments come as obesity rates continue to rise worldwide and studies increasingly point to benefits of GLP-1 drugs beyond weight loss, including cardiovascular, metabolic and liver health.
Whether the treatment eventually gains wider acceptance in India, Mr. Kamath suggested, may depend not only on availability but also on convenience, long-term adherence and evolving attitudes toward obesity treatment.
