The economics are not the ones people assume. Checked August 2026, a real Ozempic 1mg pen is ₱8,734 at Watsons, the 0.25mg and 0.5mg pens are ₱7,650, and Wegovy 2.4mg is ₱12,650. That is a serious monthly outlay for a product most buyers cannot visually authenticate, in a market where stock goes intermittent for stretches. But the margin a counterfeiter is chasing was never the gap down from retail. It is the gap between the ₱6,000 they ask and the near-zero cost of whatever is actually in the pen. High demand, patchy supply and low buyer expertise are enough on their own, and the counterfeiter can price close to retail and still keep almost all of it.
This is why the "too cheap to be true" instinct fails here. The Manila Bulletin's June 2026 reporting on counterfeit pens in the Philippines describes a buyer persuaded by an offer of around ₱6,000, which the piece notes was about what local drugstores were charging. Against real retail of ₱7,650, ₱6,000 is a modest discount, the kind a buyer talks themselves into rather than one that trips an alarm. See the Manila Bulletin report of 13 June 2026.
Stockouts do the recruiting. When the 2.4mg pen vanishes from retail counters for a month, the buyer who was doing everything right starts scrolling marketplace listings, and that is the moment of maximum vulnerability. The full stock-behavior picture is in my Ozempic price filing and the Mercury Drug stock FAQ.