Brazil weight-loss pen imports fall 22% in August, Citi data shows

Brazilian imports of hormone-based peptide drugs, a proxy for weight-loss pen supply, fell 22% month-on-month in August, driven by moderation in flows from Italy where Novo Nordisk is expanding capacity. US and German shipments, a proxy for Eli Lilly's Mounjaro, remained stable. The decline suggests a temporary supply adjustment rather than demand collapse, but the trend bears monitoring for pharma supply-chain signals.