Novo Nordisk launched its weight-loss drug Wegovy in China after being approved by local health authorities in June.
It is expected to step up competition with rival Eli Lilly, whose popular weight-loss treatment also got the green light a few months ago but has not yet been commercialized in the world's second-largest pharmaceutical market.
More than 180 million people suffer from obesity in China.
According to Chinese business news site Yicai, a four-shot dose of Wegovy will cost 1,400 yuan (£153; $194), a fraction of the drug's price in the United States.
Yicai's report said Chinese patients will have to pay the full price of the treatment, as the drug is not included in national health insurance.
Research suggests that Wegovy patients can lose more than 10% of their body weight.
In an article published on Chinese app WeChat, Novo Nordisk said its treatment “will provide a safe and effective weight loss option for overweight and obese patients in China.”
Aimed at people who are severely overweight, Wegovy's active ingredient is a medication called semaglutide, which helps control blood sugar, reduces appetite and makes patients feel full. It is also the active ingredient in sister drug Ozempic, used to treat type 2 diabetes.
However, some users may experience side effects, such as nausea and vomiting, and research shows that patients often regain weight after stopping treatment.
Wegovy went on sale in the United States in 2021, where a month's supply currently costs $1,349.
Fueled by social media buzz and celebrity users including Elon Musk, the drug has since flown off pharmacy shelves around the world.
The UK's Medicines and Healthcare products Regulatory Agency has asked doctors to be alert to patients who may be misusing obesity injections, such as Wegovy.
This follows reports that some people who were not obese became ill after using the vaccines to lose weight.
Wegovy's popularity has made its creator, Novo Nordisk, the most valuable company in Europe. Its total market value currently exceeds $440 billion.
