Six months after launch, Eli Lilly’s Mounjaro is already India’s second-biggest pharma brand, ahead of antacid Pan and just behind antibiotic Augmentin. Days later, Eli Lilly announced a $1 billion investment and a new Hyderabad hub.

The timing is no accident: India has one of the world’s largest obese and diabetic populations, Ozempic’s patent expires in 2026, and local pharma giants are gearing up with cheap GLP-1 generics.

In this episode of Daybreak, we unpack how this landscape presents both an opportunity and a challenge for Eli Lilly.

Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.