Ozempic in Spain: the never-ending shortage
Ozempic (semaglutide 1 mg subcutaneous, Novo Nordisk) is AEMPS-approved for type-2 diabetes. Since 2023 it has suffered intermittent shortages driven by off-label obesity use and consumption in other countries (especially USA). AEMPS published a 2024 notice restricting off-label prescriptions, prioritizing diabetic patients. As of February 2026, availability in Spanish pharmacies remains erratic: some doses (0.5 mg) have better stock than others (1.0 mg and 2.0 mg).
Wegovy: the obesity-specific sibling
Wegovy is semaglutide 2.4 mg subcutaneous from Novo Nordisk, approved specifically for obesity (BMI ≥30 or ≥27 with comorbidities). Marketed in Spain since 2023, but NOT reimbursed by the National Health System (SNS), which means open-market pricing of approx. €300-380/month depending on pharmacy. Spanish private market accesses Wegovy mainly through obesity clinics with closed-loop medical follow-up.
Mounjaro: the tirzepatide entry
Mounjaro (tirzepatide, Eli Lilly) entered the Spanish market in 2024 via EMA + AEMPS authorization for type-2 diabetes. Zepbound (same active ingredient, obesity brand) took longer to arrive and is sold at a private price similar to Wegovy (€300-400/month depending on dose). Eli Lilly has invested in expanding European production capacity (Alzey plant, Germany) to avoid the Ozempic shortage pattern.
Private prices in Spain (February 2026)
Ozempic — pharmacy retail price with prescription: €87-130 per pen (various doses). Wegovy — pharmacy retail price with private prescription: €290-380 per pen (4 doses). Mounjaro — pharmacy retail price with prescription: €220-310 per pen (4 doses). These prices are without SNS reimbursement, contingent on available stock and specific prescription. Private clinics in Madrid, Barcelona, Valencia offer 'all-in' follow-up + medication packages at €400-600/month.
The research-market option
In parallel to the authorized market, there is a market of synthetic semaglutide and tirzepatide reagents for biochemical research with ≥99% HPLC purity and per-batch CoA. These products are NOT medicines, are not dispensed in pharmacies, do not have pharmaceutical presentation, and are commercialized exclusively for experimental laboratory use. The legal difference is clear (medicine vs. reagent); the price difference is roughly one order of magnitude (10-20× lower). Any non-experimental use falls outside the product's legal framework.
What's coming 2026-2027
Three clear trends: (1) Productive capacity — Novo Nordisk and Eli Lilly are doubling European capacity during 2026. Shortages should ease from Q4 2026. (2) Regulated compounding — UK approved in 2025 magistral formulas (compounded) of semaglutide under collegiate pharmaceutical supervision. Spain still lacks equivalent framework. (3) Arrival of retatrutide and survodutide — between 2027-2028, third-generation molecules will enter the market, pressuring prices down.
Conclusion
The Spanish market is maturing: Ozempic stabilizing for diabetics, Wegovy and Mounjaro consolidating in private clinics, and a 2027-2028 horizon with generic tirzepatide and innovative retatrutide. Meanwhile, the research-reagent market remains a differentiated space for labs and R&D institutions.
Source: AEMPS
