Tuesday, 02 January 2024 12:17 GMT

Ozempic Debuts In India In New Pen Format - Prices Start At ₹2,200


(MENAFN- Live Mint) Novo Nordisk launched Ozempic in India on Friday, 12 December, pricing the 0.25 mg dose at $24.35 (approximately ₹2,200) per week, as it seeks to tap into the country's rapidly expanding diabetes and obesity market, where demand for weight-loss treatments is soaring, Reuters reported.

The company will sell Ozempic in a pen format in 0.25 mg, 0.5 mg and 1 mg doses, the drugmaker said.

Novo set monthly prices at ₹8,800 for the 0.25 mg dose, ₹10,170 for the 0.5 mg dose and ₹11,175 for the 1 mg dose. Each pen contains four weekly doses.

“Ozempic, a once-weekly injectable approved by the U.S. Food and Drug Administration in 2017 for type 2 diabetes, has become a global bestseller and is widely used off-label for weight loss due to its appetite-suppressing effects. It also protects patients from the risk of cardiovascular events and kidney issues,” Novo said.

“Ozempic also helps people with weight loss of up to 8 kilograms in people with diabetes... So, this medication has benefits beyond glycemic control,” Novo Nordisk India head Vikrant Shrotriya said, as reported by Reuters.

Ozempic sold as a treatment of diabetes

Novo Nordisk is marketing Ozempic purely as a treatment for type II diabetes in India, Shrotriya was quoted as saying by PTI.

“We applied for type 2 diabetes. We got (approval from the drug regulator in India) for it,” he added.

India has the world's second-largest population of people with type 2 diabetes, after China, and is also seeing rising obesity rates - making it a key market for pharmaceutical companies racing to capture the booming weight-loss drug sector.

Analysts project that this market could reach $150 billion annually by the end of the decade.

Novo Nordisk had planned to introduce Ozempic in India this month, Reuters previously reported, aiming to establish an early presence before local generic manufacturers launch more affordable versions. The patent for semaglutide expires in March 2026, reported Reuters.

Will Ozempic become a market hit or costly miss?

When questioned about Ozempic's market opportunity in India, Shrotriya said it is hard to estimate, nothing that even globally demand has been difficult yo predict, with demand exceeding the supply.

He also noted Ozempic's delayed launch in India was partly to ensure uninterrupted supplies, adding that the injection will be imported from Denmark, where it is manufactured.

“We remain very agile and very flexible in terms of our supply chain to service India,” he told PTI.

With the patent for injectable semaglutide expiring next year, he said the company is bracing for incoming competition as generic players are expected to enter the market. However, the company remains confident that its product quality and brand equity will keep patients choosing its product.

Ozempic, which is an injectable semaglutide, is prescribed as a once-weekly adjunct to diet and exercise for adults with uncontrolled type 2 diabetes mellitus (T2DM).

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