Eli Lilly launched its blockbuster diabetes and weight-loss drug Mounjaro in India on Thursday, beating rival Novo Nordisk for a much-awaited entry into the world's most populous country grappling with increasing rates of obesity and diabetes.

US pharma giant Eli Lilly has ventured into India with an anti-obesity and diabetes drug called Mounjaro. This development comes after the drug’s approval from the Central Drugs Standard Control Organisation (CDSCO).

Eli Lilly has launched its diabetes and weight-loss drug Mounjaro in India, marking its entry into a rapidly growing market. Priced significantly lower than in the U.S., Mounjaro competes with Novo Nordisk's Wegovy.