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.

Chemically known as tirzepatide, Mounjaro is currently sold in the UK and Europe under the same brand name for both diabetes and weight loss. It is sold as Zepbound for obesity in the United States.

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.