A fast-growing weight-loss drug market in South Africa could soon expand across the continent, with Aspen Pharmacare targeting wider African approval for Mounjaro, a drug similar to Ozempic.

In October The South African reported on how the new, cheaper weight-loss drug was ready to undercut Ozempic, as Aspen celebrated receiving regulatory approval.

Now the South African pharmaceutical giant plans to register the drug in several sub-Saharan countries as early as this year.

Local demand for Mounjaro has taken off exponentially, helping drive growth in the country’s market for weight-loss drugs.

GLP-1 weight-loss drugs mimic a hormone that suppresses appetite.

Aspen’s sales racing past R1bn

Aspen CEO Stephen Saad told investors the drug is expected to generate more than R1.3 billion in sales in the year ending June.

“It will be the quickest brand to reach a billion rand sales in the South African private market,” Saad said.

Mounjaro is manufactured by US drugmaker Eli Lilly and distributed in South Africa by Aspen. It has quickly captured a large share of the country’s growing weight-loss drug market.

According to Aspen, the local GLP-1 market has tripled in value over the past 18 months, reaching about R2.2 billion.

Mounjaro now accounts for more than half of the market, helped by regulatory approval for chronic weight management.

Ozempic rival eyes African expansion

The surge in demand highlights the growing interest in weight-loss treatments across Africa, where these drugs remain relatively scarce.

GLP-1 medications – which include Ozempic, Wegovy and Mounjaro – have become some of the most sought-after drugs globally as obesity rates rise.

South Africa’s market already features competition from Danish pharmaceutical company Novo Nordisk, which produces Ozempic and Wegovy.

Aspen believes the region represents a largely untapped opportunity for the rapidly expanding class of medications.

Globally, the market for weight-loss drugs is projected to reach $100 billion by 2030.