Hanmi Pharmaceutical's first domestically developed GLP-1 injectable weight loss drug, Epe (generic name: epeglanatide), is expected to receive approval from the Ministry of Food and Drug Safety as early as next month, with a launch anticipated by the end of the year. As the market has solidified around the leading drugs Wigobi and Maunzaro, Epe's price competitiveness is emerging as a key factor, potentially leading to market expansion and increased pressure for price reductions.
According to industry sources on September 30, Hanmi submitted its application for Epe's approval in December last year and is currently in the final stages of the approval process, addressing additional data requested by the Ministry. If all goes as planned, the company expects to complete production and distribution preparations within a month of receiving approval in October, ensuring a timely launch.
As Epe's launch approaches, market attention is focused on pricing. Currently, the starting price for a four-week supply of non-reimbursed weight loss drugs is approximately 216,000 won (0.25 mg) for Wigobi and 278,000 won (2.5 mg) for Maunzaro.
Industry analysts believe that Epe, as a latecomer, will leverage price competitiveness to enter the market, with expectations that it could launch at a price in the 100,000 won range for a four-week supply.
A pharmaceutical industry representative stated, "Hanmi can secure both supply stability and price competitiveness through its own production at the Pyeongtaek bio plant. There have been instances in the past where Wigobi adjusted its prices following the launch of Maunzaro, indicating that a price adjustment across the weight loss drug market is possible."
Indeed, when Maunzaro was launched in South Korea, Wigobi reduced its starting price from 372,000 won to 216,000 won, a decrease of about 42%. This context raises the possibility of further price adjustments among existing products with Epe's entry.
In addition to price competitiveness, Hanmi is expected to overcome the challenges of being a latecomer by leveraging clinical data for domestic patients, its own production supply chain, and its established sales network in hospitals and clinics. The company has built a strong sales network in the chronic metabolic disease sector, including hypertension and diabetes, which could be crucial for connecting prescriptions for Epe.
If Epe's entry transforms the weight loss drug market from a two-horse race to a three-way competition, analysts predict that the overall market size will grow while prices decrease, creating a structure of market expansion and price reduction. However, given that Wigobi and Maunzaro have already established brand recognition and prescription experience, whether Epe can surpass the incumbents solely on price will depend on its effectiveness, safety evaluations, and the speed of prescription transitions.
Meanwhile, the competitive landscape between Novo Nordisk's Wigobi, which entered the domestic market in October 2024, and Eli Lilly's Maunzaro, a latecomer, is also changing. According to Vivid Health, as of last month, among users receiving GLP-1 weight loss drug prescriptions, Maunzaro accounted for about 70%, while Wigobi accounted for about 30%. Just a year ago, Wigobi held an overwhelming share of approximately 96%, but Maunzaro has now overtaken it with about 70%.
According to industry sources on September 30, Hanmi submitted its application for Epe's approval in December last year and is currently in the final stages of the approval process, addressing additional data requested by the Ministry. If all goes as planned, the company expects to complete production and distribution preparations within a month of receiving approval in October, ensuring a timely launch.
As Epe's launch approaches, market attention is focused on pricing. Currently, the starting price for a four-week supply of non-reimbursed weight loss drugs is approximately 216,000 won (0.25 mg) for Wigobi and 278,000 won (2.5 mg) for Maunzaro.
Industry analysts believe that Epe, as a latecomer, will leverage price competitiveness to enter the market, with expectations that it could launch at a price in the 100,000 won range for a four-week supply.
A pharmaceutical industry representative stated, "Hanmi can secure both supply stability and price competitiveness through its own production at the Pyeongtaek bio plant. There have been instances in the past where Wigobi adjusted its prices following the launch of Maunzaro, indicating that a price adjustment across the weight loss drug market is possible."
Indeed, when Maunzaro was launched in South Korea, Wigobi reduced its starting price from 372,000 won to 216,000 won, a decrease of about 42%. This context raises the possibility of further price adjustments among existing products with Epe's entry.
In addition to price competitiveness, Hanmi is expected to overcome the challenges of being a latecomer by leveraging clinical data for domestic patients, its own production supply chain, and its established sales network in hospitals and clinics. The company has built a strong sales network in the chronic metabolic disease sector, including hypertension and diabetes, which could be crucial for connecting prescriptions for Epe.
If Epe's entry transforms the weight loss drug market from a two-horse race to a three-way competition, analysts predict that the overall market size will grow while prices decrease, creating a structure of market expansion and price reduction. However, given that Wigobi and Maunzaro have already established brand recognition and prescription experience, whether Epe can surpass the incumbents solely on price will depend on its effectiveness, safety evaluations, and the speed of prescription transitions.
Meanwhile, the competitive landscape between Novo Nordisk's Wigobi, which entered the domestic market in October 2024, and Eli Lilly's Maunzaro, a latecomer, is also changing. According to Vivid Health, as of last month, among users receiving GLP-1 weight loss drug prescriptions, Maunzaro accounted for about 70%, while Wigobi accounted for about 30%. Just a year ago, Wigobi held an overwhelming share of approximately 96%, but Maunzaro has now overtaken it with about 70%.
* This article has been translated by AI.
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