The price of semaglutide, a crucial active pharmaceutical ingredient (API) used in popular weight-loss and diabetes medications like Novo Nordisk's Ozempic and Wegovy, has plummeted from $900 per gram three years ago to between $90 and $160 per gram. This dramatic decline is driven by a surge in global demand, expanded manufacturing capabilities, and the expiration of patents in key markets, including India. Experts anticipate that prices could fall by an additional 20-30% in the upcoming months. The patent for semaglutide expired on March 20, allowing Indian companies such as Sun Pharmaceuticals and Dr. Reddy's Laboratories to introduce generics at competitive prices. While this trend may enhance affordability and access to GLP-1 therapies for consumers, it could be tempered by rising costs of solvents and other inputs due to global supply chain disruptions. Industry analysts highlight that the significant price drop is also a result of Chinese manufacturers achieving cost efficiencies through large-scale production, enabling them to maintain profitability even at lower price points.