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.

The drug will be priced at ₹3,500 for a 2.5 mg vial and ₹4,375 for the 5 mg vial. The injectable, to be taken once a week, would cost patients between ₹14,000 to ₹17,500 monthly.

Eli Lilly and Co. has begun selling its blockbuster weight-loss and diabetes drug Mounjaro in India, pipping rivals in a country that has the world’s third-largest number of obese people.