By Rishika Sadam

BENGALURU (Reuters) -Danish drugmaker Novo Nordisk on Tuesday cut the price of its blockbuster weight-loss drug, Wegovy, by up to 33% in India, according to a document seen by Reuters, as it looks to gain ground in one of the world’s fast-growing markets for obesity treatments.

U.S.-listed shares of Novo Nordisk rose 3.8% to $47.67, while Lilly shares were marginally up in morning trade.

India is turning out to be a key battleground for Novo Nordisk and U.S. drugmaker Eli Lilly as they compete fiercely for a bigger share of the global market for weight-loss drugs that analysts estimate could be worth $150 billion annually by the end of the decade.

Wegovy’s highest dose of 2.4 mg will now cost 16,400 rupees ($186.59), compared with its earlier price of 24,389.06 rupees,

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