Novo Nordisk A/S is launching its top-selling Wegovy obesity drug in China at a fraction of the US price, a key step in unlocking a big, fast-growing market for its blockbuster franchise.

Novo Nordisk said on Monday it has launched its popular obesity drug Wegovy in China, the world's second-largest pharmaceuticals market where it estimates more than 180 million people live with obesity.

Patients in China will be able to purchase the blockbuster weight-loss drug Wegovy for 1,400 yuan, or about $193, just a fraction of the US list price of $1,349, according to media reports.

Wegovy is being made available to Chinese patients five months after its approval in the country. Novo will sell the medicine for about $193.27 for a one-month supply.

Novo Nordisk reported forecast-beating third-quarter sales of its popular Wegovy weight-loss drug on Wednesday, reassuring investors worried that demand was slowing and it could lose the race in the fast-growing obesity drug market.

State Medicaid programs for low-income families are the single biggest source of coverage, giving 31.6 million people access to Novo Nordisk's Wegovy or Eli Lilly's Zepbound.

Weight-loss drug makers are directly targeting employers in a campaign to expand health insurance coverage of their popular, but pricey, medications.

The efforts by Eli Lilly and Novo Nordisk could be a game-changer for sales, which some analysts say could exceed $100 billion a year.

Lilly’s reps presented a slide deck that laid out data on the effectiveness of Lilly’s weight-loss drug Zepbound. The goal of the hourlong meeting with association leaders was to cement one core message: Obesity care is healthcare.