On December 24, 2025, Eli Lilly’s blockbuster anti-diabetic and weight-loss drug Tirzepatide launched pre-sales with steep price cuts on Meituan Pharmacy in China. Prices of all four specifications dropped to around 20% of their early-year levels, driving a over 10-fold month-on-month surge in orders. Meanwhile, platforms like Alibaba and JD.com also rolled out discounted pre-sales. With Tirzepatide set to enter medical insurance next year and semaglutide approaching its patent cliff, China’s GLP-1 weight-loss market is stepping into a new phase of "trading price for volume" competition.
Currently, Tirzepatide’s approved indications in China focus on blood glucose control, weight management, and obstructive sleep apnea in adult patients with type 2 diabetes. In the first three quarters of this year, Tirzepatide contributed half of Eli Lilly’s total sales, helping it become the world’s first biopharmaceutical company with a market value exceeding $1 trillion in November.
On December 24, pre-sales of Tirzepatide with substantial price cuts kicked off on Meituan Pharmacy. The four major specifications saw sharp declines: the pre-sale prices for 10mg, 20mg, 30mg and 40mg stood at RMB 450, RMB 750, RMB 1,050 and RMB 1,320 respectively, equivalent to about 20% of the early-year prices. The pre-ordered drugs are expected to be shipped on January 5, 2026.
In comparison, prices on other e-commerce platforms were slightly higher than Meituan. One platform priced the above specifications at RMB 486.2, RMB 826.5, RMB 1,127.4 and RMB 1,405.05 respectively, while another e-commerce pharmacy quoted pre-sale prices of RMB 599, RMB 899, RMB 1,299 and RMB 1,599 for the same.
The drastic price cuts directly stimulated consumer demand. It is learned that after Meituan launched the discounted pre-sale campaign, Tirzepatide’s order volume surged over 10 times month-on-month. Beyond Tirzepatide, prices of other GLP-1 drugs also loosened. At present, the 1.5ml formulation of Novo Nordisk’s Semaglutide Injection is priced at around RMB 220 on Meituan Pharmacy, down about 70% from the 618 Shopping Festival period this year. Mazdutide, co-developed by Innovent Biologics and Eli Lilly, is priced between Tirzepatide and Novo Nordisk’s Semaglutide with no obvious price cuts so far.
On December 7, Tirzepatide was included in the new national medical insurance catalog for the first time, making a price war in the GLP-1 sector imminent.
Notably, Tirzepatide’s indications covered by medical insurance this time are limited to adult type 2 diabetes, excluding weight loss, which continues the National Healthcare Security Administration’s principle of not reimbursing drugs for "lifestyle improvement" purposes such as weight loss and beauty treatments. As a result, the GLP-1 market presents a dual-track pattern: "treatment covered by medical insurance, weight loss at own expense". In the self-funded weight loss segment, consumers are more price-sensitive, laying the groundwork for price competition.
Competition in the GLP-1 market has remained fierce this year. At the end of 2024, Eli Lilly released head-to-head trial results showing that Tirzepatide’s weight-loss efficacy is 1.47 times that of Semaglutide, directly boosting its market share. In the first three quarters of this year, Tirzepatide achieved global sales of $15.556 billion, emerging as a top contender for the 2025 pharmaceutical industry sales champion.
Novo Nordisk continues to explore new paths, announcing on December 23 that its oral weight-loss Semaglutide was approved in the US, which quickly became a trending topic.
Mazdutide, approved for marketing in June this year, also joined the fray. In addition to promoting insulin secretion, lowering blood glucose and reducing weight by activating GLP-1 receptors, Mazdutide can also increase energy consumption to enhance weight-loss efficacy and improve liver fat metabolism by activating glucagon receptors (GCGR).
Price, dosage form and target have become key chips for pharmaceutical giants to compete for incremental patients, especially the self-funded weight-loss population.
A more critical milestone falls in March next year: the core patent of Semaglutide in China is set to expire, allowing a flood of generic drugs to enter the market and drastically increasing supply.
The industry generally believes that price wars of GLP-1 drugs will become normalized in 2026, with the market entering a phase of trading price for volume.
Different from prescription drugs in hospitals, weight-loss drugs have distinct consumer healthcare attributes, with patients’ decision-making timing shifting from "after clinic visits" to "before seeking medical advice". This aligns naturally with internet healthcare platforms that are user-centric and emphasize accessibility and convenience.
Data shows that over 80% of users proactively obtain weight management and related product information through online channels, making online platforms a key battlefield for GLP-1 market competition. Currently, enterprises including Novo Nordisk, Eli Lilly and Innovent have all laid out online channels. Relevant platforms predict that by 2030, the scale of GLP-1 in the weight-loss sector will exceed RMB 30 billion, with internet healthcare channels accounting for over 50% of the market share.
What kind of patients prefer buying weight-loss drugs online? Data from JD.com, Meituan and Alibaba Health consistently shows distinct gender and age distribution in the weight-loss sector: female users are about 3 times that of males, forming the absolute main force; on Meituan Pharmacy, female users account for about 52% and users under 40 make up 85%.
To enhance user experience, various platforms are building a complete service closed loop. Alibaba, JD.com and Meituan have all launched special section popular science, patient education and pharmacist services. Leveraging its local health service resources and capabilities, Meituan has integrated combined services of "online drug purchase + convenient pickup/nearby clinic experience" to meet diverse user needs. In response to the strict temperature control requirements for GLP-1 injections, Meituan’s self-operated pharmacy has partnered with SF Express to establish air freight and cold chain logistics services, achieving full-process temperature control for GLP-1 and other drug deliveries.
Currently, obesity has become a major global health challenge. Approximately 180 million adults in China suffer from obesity, with the prevalence continuing to rise. At the policy level, 16 departments including the National Health Commission launched a three-year "Weight Management Year" campaign starting from 2024. The drastic price cuts of GLP-1 drugs such as Tirzepatide will greatly improve the accessibility of innovative drugs, while accelerating market education and popularization.
Wan Chai District, Hong Kong, China
