(MENAFN) Indian pharmaceutical behemoths are strategically positioning themselves to capture a significant share of the burgeoning market for anti-obesity drugs, as patents on leading weight-loss medications are poised to expire. According to a report by the Economic Times, Biocon, under the leadership of billionaire Kiran Mazumdar-Shaw, is spearheading efforts to dominate this sector, leveraging its expertise and capabilities to introduce generic versions of key medications.
Biocon, headquartered in Benaguru, has already secured approval in the United Kingdom for a generic form of liraglutide, an injectable used in weight-loss treatment currently marketed under the Saxenda brand by Novo Nordisk. With the patent for Saxenda set to expire in November, Biocon's foray into the weight-loss market is strategically timed to capitalize on the impending opportunities. The company's Chief Executive Officer, Siddharth Mittal, affirmed their commitment to maintaining a leading position in this evolving landscape, highlighting the development of fifteen peptide formulations, with plans for regulatory approval of one or two formulations this year. Biocon's ambitious expansion efforts extend beyond the United Kingdom, with applications filed with regulatory bodies in the US and Europe.
Joining Biocon in this pursuit are other prominent Indian pharmaceutical giants such as Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, and Cipla. These industry leaders are actively engaged in the development of anti-obesity medications, anticipating the expiration of patents on popular drugs like Ozempic and Wegovy. The imminent expiry of patents presents a strategic window of opportunity for India's generic drug manufacturers to penetrate the weight-loss market, potentially reshaping the competitive landscape and unlocking significant growth prospects in the coming years.
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