“People will eat less, smoke less, buy less, and live longer. They’ll also trade less? Insurance premiums have to change, and annuity payouts in pensions will have to be readjusted,” he wrote, pointing to the sweeping second-order effects these drugs could trigger.
Kamath has been tracking the space closely, especially after Eli Lilly launched Mounjaro in India — a GLP-1 drug considered even more effective than Novo Nordisk’s Ozempic. For a country with the world’s largest diabetic population and a rising obesity curve, the implications could be enormous.
Mounjaro, which contains tirzepatide, mimics a hormone that regulates blood sugar and appetite. While originally developed for diabetes, it’s shown remarkable weight-loss benefits — helping users shed 15–20% of their body weight, provided they stay on the drug. The catch? It’s pricey. A single-dose vial costs ₹3,500 for 2.5 mg or ₹4,375 for 5 mg. On a typical weekly dose, that adds up to over ₹2 lakh a year.
Kamath flagged that most of the world — including India — still doesn’t fully understand the long-term impact of these drugs. “What we don’t know is more than what we know about these drugs at this point,” he said.
But early reports suggest that GLP-1 drugs go well beyond weight. There are signs they reduce cravings linked to alcohol, nicotine, gambling, and even compulsive shopping. Some studies point to benefits for cardiovascular health, dementia, Alzheimer’s, and mental health. Kamath doesn’t claim certainty, but acknowledges the buzz: “Even if half of what’s being reported is true, then this will be the closest thing we’ve seen to a miracle drug.”
Globally, adoption is still low — just 6% of the U.S. population is on these drugs — yet retail giants like Walmart are already seeing changes in consumer behavior. As Kamath notes, the effects could snowball across sectors, from FMCG to finance.
Importantly, this is just the beginning. With patents on key ingredients set to expire in 2026, generic versions may flood the market — pushing prices down and usage up.
India may have been late to the GLP-1 wave, but that could work to its advantage. The world has offered a preview of what’s to come. Now the question is: are we ready?
