Indian firms including Ajanta Pharma, Dr. Reddy’s Laboratories, Lupin, Mankind Pharma and Sun Pharmaceuticals, are poised to fulfill demand for weight loss drugs with more affordable generic options after Novo Nordisk’s patent on semaglutide expires on 20 March, as per a Bloomberg report.
According to an NDTV report, over 50 brands are looking to enter the Indian market by mid-March, with generic versions of .
How much are the drugs expected to cost?
The influx of additional medicines has prompted clinics, hospitals and telehealth companies in the country to expand services, as they expect versions to at least double in March. Further, these versions are expected to be priced around 50% less at around ₹5,000 ($54) per week, the report added citing sources.
India is the second country after Canada where is losing its semaglutide patent and will be a “test” for how much drop in drug prices the weight loss market could see, the report added. According to a CareEdge Ratings note on 10 March, prices could drop by 40-50% as more competitors enter the market.
Notably, India has a large market for , fatty liver and thyroid disease medicines with the world’s third-largest overweight population after the United States and China. The GLP-1 market size is expected to expand from ₹1,000 crore to ₹5,000 crore by 2030, the CareEdge noted added.
How are healthcare facilities preparing?
As per the report, Apollo Health and are starting or expanding services for obesity management, including dieticians, fitness trainers, physicians and psychologists. Novo has also partnered with Apollo for dedicated obesity centres, it added.
In major cities, hospitals are looking at revenues of up to ₹11 crore per facility dedicated to obesity programmes, complete with consultation and prescription package, Kaustav Ganguli, MD for health care and life sciences at Alvarez & Marsal told Bloomberg.
Krishnan Akhileswaran, chief financial officer of Hospitals, said the chain is evaluating the space amid large opportunity. Online pharmacies such as Tata 1MG Technologies, PharmEasy are offering consultation and check-up packages.
Pharma major ‘s is in talks with healthcare providers and hospitals to roll out patient support programmes. This was announced by the company’s CEO – Branded markets, MV Ramana in January.
Delhi-based startup Enlighten Now Healthcare’s weight management platform Elevate Now, is in talks for tie ups with gym chains and manufacturers such as Dr. Reddy’s, founder Suryansh Kumar told the publication.
(With inputs from Bloomberg)