Generic medicine makers prepare to launch affordable options after Novo’s patent for Ozempic, Wegovy expires
According to a Bloomberg report, Indian companies such as Ajanta Pharma, Dr Reddy’s Laboratories, Lupin, Mankind Pharma and Sun Pharmaceuticals are preparing to meet the domestic demand for weight loss drugs with more affordable generic options after Novo Nordisk’s semaglutide patent expires on March 20.
More than 50 brands are planning to enter the Indian market with generic versions of semaglutide by mid-March, according to an NDTV report.
How much will the medications cost?
The influx of additional drugs has prompted the country’s clinics, hospitals and telehealth companies to expand their services as they expect generic versions to at least double in March. Additionally, these versions are expected to be sold at approximately 50% cheaper. ₹5,000 ($54) per week, the Bloomberg report added, citing sources.
The report said India was the second country after Canada where Novo lost its semaglutide patent, and would be a “test” of how much the weight-loss market could see prices for the drug drop. Prices could drop by 40-50% as more competitors enter the market, according to a March 10 note from CareEdge Ratings.
India, in particular, has a large market for diabetes, fatty liver and thyroid disease drugs and has the world’s third-largest overweight population after the United States and China. GLP-1 market size is expected to expand from: ₹1,000 crore ₹5,000 crore by 2030, the CareEdge note added.
How are health facilities prepared?
Apollo Health and Fortis Healthcare are launching or expanding services for obesity management, including dietitians, fitness trainers, physicians and psychologists, according to the report. It was also stated that Novo has partnered with Apollo for private obesity centers.
Hospitals in major cities are expecting revenue so far ₹11 crore per facility earmarked for obesity programs, complemented by consultation and prescription package, Kaustav Ganguli, MD, Alvarez & Marsal Health and Life Sciences, told Bloomberg.
Krishnan Akhileswaran, chief financial officer of Apollo Hospitals, said the chain is considering the space due to the huge opportunity. Online pharmacies like Tata 1MG Technologies and PharmEasy offer consultation and check-up packages.
Pharmacy expert Dr Reddy’s is in talks with healthcare providers and hospitals to implement patient support programmes. This was announced by the company’s Branded Markets CEO MV Ramana in January.
Delhi-based startup Enlighten Now Healthcare’s weight management platform Elevate Now is in talks to tie up with gym chains and manufacturers such as Dr Reddy’s, founder Suryansh Kumar told the news agency.
(With input from Bloomberg)
