(MENAFN- KNN India)
New Delhi, Jun 28 (KNN) India is set to begin domestic production of Glucagon-like peptide receptor agonist (GLP-1RA) drugs, widely used for treating diabetes and obesity, starting in 2026 when relevant patents expire.
This development falls under the country's Production Linked Incentive (PLI) scheme, as announced by a senior government official on Thursday.
GLP-1RA medications function by stimulating GLP-1 receptors in the pancreas, enhancing insulin release while reducing glucagon secretion.
These drugs have recently gained attention due to their off-label use for weight loss, leading to increased demand and occasional shortages.
Major pharmaceutical companies like Eli Lilly and Novo Nordisk are expanding their production capacities to meet the growing demand.
Lilly has announced a USD 5.3 billion investment to increase manufacturing, while Novo Nordisk plans to spend USD 4.1 billion on a new facility in North Carolina for producing Ozempic and Wegovy.
The global market for GLP-1RA drugs is substantial, with Lilly's Mounjaro generating RS 5.1 billion in sales and Novo's Ozempic exceeding Rs 13.9 billion in 2023.
The market size for these drugs was estimated at Rs 22.4 billion in 2022, with projections indicating a compound annual growth rate of 9.6 per cent until 2032.
Arunish Chawla, Secretary, Department of Pharmaceuticals (DoP), stated that Indian pharmaceutical companies are preparing to manufacture these drugs locally after patent expiration.
While specific companies were not named due to competitive concerns, Chawla confirmed that work has already begun under the PLI scheme.
The Indian government is also focusing on other opportunities in the pharmaceutical sector.
Chawla noted that approximately 300 drugs will lose patent protection globally in the next five years, including 24 blockbuster medications. India aims to capitalize on this situation through its PLI scheme.
Additionally, the DoP is establishing a project monitoring unit to identify and support research and innovation in the pharmaceutical and medical technology sectors.
This initiative is part of the Promotion of Research and Innovation in Pharma MedTech Sector (PRIP) scheme, which has a sanctioned outlay of 5,000 crore rupees for the period 2023-24 to 2027-28.
The government's efforts aim to boost India's pharmaceutical research and manufacturing capabilities, with a focus on developing new technologies and molecules for future healthcare needs.
(KNN Bureau)
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