April 23, 2024

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Indian pharmaceutical companies start developing generic Wegovy

Indian pharmaceutical companies start developing generic Wegovy



Weight loss drug market potential enormous: Indian pharmaceutical companies start developing generic Wegovy

In order to carve out a share in the rapidly growing weight loss drug market, Indian pharmaceutical companies have begun developing generic versions of the popular drug Wegovy. Executives from the world’s largest generic drug manufacturers, such as Sun Pharma, Cipla, Dr. Reddy’s, and Lupin, have all stated that they have started developing generic versions of Wegovy.

Due to strong market demand, Novo Nordisk’s (NVO.US) weight loss drug Wegovy has consistently been in short supply, as have competitors Eli Lilly’s (LLY.US) Zepbound and Mounjaro. Analysts suggest that this move by Indian pharmaceutical companies could significantly improve global access to weight loss drugs and greatly reduce the price of these medications.

Vishal Manchanda, an analyst at Systematix, said, “We expect sales of weight loss drugs to increase several times when the patent for Wegovy expires, but that’s a few years away. Generic drug manufacturers will offer these drugs at lower prices.”

It is reported that the patent for Wegovy will expire in China in 2026, in Japan and Europe in 2031, and in the United States in 2032. It is currently unclear when the patent for Wegovy will expire in India.

India’s weight loss drug market has enormous potential. Data shows that India has a high obesity rate, especially among women, and is home to the second-highest number of type 2 diabetes patients in the world. According to the World Obesity Federation Atlas, by 2035, around 11% of adults in India will be obese.

According to estimates from market research firm experts, the Indian diabetes drug market alone will reach 316 billion rupees ($3.81 billion) by 2023, and is expected to reach 1.2 trillion rupees ($14.48 billion) in the next decade.

Weight loss drug market potential enormous: Indian pharmaceutical companies start developing generic Wegovy

Indian pharmaceutical companies start developing generic Wegovy

(source:internet, reference only)


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