Eli Lilly's Mounjaro, a leading diabetes and weight-loss medication, has seen its monthly sales decline as affordable generics of semaglutide flood the Indian market. Following the expiration of semaglutide's patent on March 21, 2026, the Indian GLP-1 agonist market has expanded significantly, reaching approximately ₹1,600 crore with 26 brands from 13 companies now competing. Sales of injectable semaglutide surged nearly sixfold within days of the generics' launch, indicating a major shift in prescribing patterns among clinicians. Dr. Anoop Misra, chairman of the Fortis C-DOC Centre of Excellence for Diabetes, noted that the market is at a historic turning point, with cost-accessibility becoming a decisive factor for both physicians and patients. Mounjaro's sales fell from ₹135 crore in January to ₹114 crore in February, leading to a reduction in Eli Lilly's market share from 69% to 56%. Despite the competition, Novo Nordisk's brands continue to dominate with a 76% value market share, supported by strategic partnerships and pricing adjustments. Analysts predict that the generics wave will continue to reshape the market dynamics in the coming months.