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India enters the anti-obesity drug business

Date: April 20, 2024 Time: 06:09:58

The market for anti-obesity drugs promises to bring millions of euros in profits to pharmaceutical companies. The Danish novo Nordisk leads the way with its drug Wegovy, but other companies such as the American Eli Lilly or even Pfizer are also preparing their strategy to not be left out of the game. But it is not only European pharmaceutical companies that are exploring this market: Indian laboratories are trying their own strategy to take advantage of the anti-obesity drug market.

Some of the largest Indian pharmaceutical companies and large generic producers (Sun Pharma, Cipla, Dr Reddy’s and Lupin) have announced that they are working on their own version of the Wegovy drug, according to Reuters. The offer from Indian companies in the sector appears while the supply problems of this drug occur given its high demand, both for the Novo Nordisk product and for Mounjaro, Eli Lilly’s injection.

Analysts point out that the arrival of Indian pharmaceutical companies on the market can lower product prices and extend it to more countries, especially as the Danish company’s patents run out. According to Novo Nordisk’s annual report, protection on Wegovy in China ends in 2026, in Europe in 2031 and in the United States it does not end until 2033.

The market in which Indian farms want to gain a foothold can report revenues of up to $100 billion in a decade, according to different analysts. For now, the drugs have allowed Novo Nordisk to increase its sales by 36% in 2023 at constant exchange rate and its operating profit increases by 37%. Sales of its anti-obesity products more than doubled last year, up to 41.6 billion Danish crowns (5.58 billion euros).

In the last year, Novo Nordisk’s drug has not stopped growing, launching in markets such as Denmark, Norway, Germany, the United Kingdom and Iceland and, although it does not have an exact detailed roadmap for new markets, it hopes to land in The Indian Market in 2026.

Eli Lilly’s results in the weight loss market were also more positive than expected. The American pharmaceutical company announced in early February that Mounjaro sales skyrocketed to 4,811.7 million euros, compared to 449.7 million euros in 2022.

The giant Pfizer has arrived somewhat later in the commitment to obesity treatments than its rivals, but it has an ace up its sleeve: the format. While the remedies they offer to their consumers are injections, the American company is researching to be able to offer its medicine in pill form. AstraZeneca, for its part, will invest more than 2 billion euros to bring to market a molecule that is still in the early stages of development.

Indian ‘pharmas’ take off

The economy of the Asian country has begun a path of economic expansion supported by the young population, technology and innovation and the increase in the savings rate that will lead it to become the second economy in the world behind China in 2070, leaving The United States in third place, according to projections made by Goldman Sachs. Within this expansion of the Indian economy, the pharmaceutical industry is positioned to play a key role.

According to data from the consulting firm EY, the Indian pharmaceutical industry has the potential to reach a value of 130,000 million dollars in 2030 and up to 450,000 million euros in 2047. To achieve the objective, the consulting firm points out that the country must boost investment. innovation, but it also becomes an essential link in the global supply chain of the pharmaceutical industry.

“In today’s competitive landscape, success depends on meticulously managing manufacturing operations and supply chain costs to optimize cost-to-service ratios and minimize inventory levels, all while maintaining the highest standards. . of service”, collects EY.

To make their place in the global supply chain, the consulting firm points out that Indian pharmaceutical companies must invest in automation and digitalization, build their credibility and use sustainable practices. In this sense, the Ministry of Health of India notified on January 6 the modification of Schedule M of the Drugs and Cosmetics Rules, 1945.

The notification states that manufacturers must take responsibility for the quality of pharmaceutical products to ensure that they are fit for their intended use, comply with licensing requirements and do not put patients at risk due to poor safety, quality or effectiveness. . inadequate. The new changes include the introduction of a pharmaceutical quality system, quality risk management, product review and equipment qualification and validation and a computerized storage system for all pharmaceutical products.

In addition to presenting itself as a new producing actor, the country is positioned as one of the main consumer markets for these medications, with the largest population in the world and 11% of people with obesity by 2025, according to data from the World Obesity Federation Atlas. Another of the country’s main challenges to promote the pharmaceutical industry is to make access to medical care more accessible among the population.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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