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.

Mumbai-based Kilitch Drugs Ltd plans to enter biosimilars and oral solids, including diabetic and weight-loss tablets, and is expanding its manufacturing capacity with a new facility in Khopoli, Mahar

Eli Lilly expands its diabetes and weight-loss drug, Mounjaro, to India, outpacing Novo Nordisk. The drug is priced significantly lower than in the U.S. Different healthcare systems and economies affect pricing.