Diabetes drug Ozempic set to launch in India this month
What's the story
Danish pharmaceutical giant Novo Nordisk is gearing up to launch its highly successful diabetes medication, Ozempic, in India this December, according to Reuters. The move comes as part of the company's strategy to strengthen its presence in one of the world's largest markets for weight-loss treatments. According to three sources familiar with the matter, Ozempic will be available within the next three to four weeks.
Market potential
India: A key market for diabetes and weight-loss drugs
India is the second-largest country in terms of type 2 diabetes prevalence, after China. The country also has rising obesity rates, making it a key market for pharmaceutical companies looking to tap into the fast-growing weight-loss treatment sector. Analysts predict that this market could be worth $150 billion annually by the end of this decade.
Drug efficacy
Ozempic's global success and off-label use
Ozempic, a once-weekly injectable drug, was approved by the US Food and Drug Administration (FDA) in 2017 for type 2 diabetes management. It has since become a global bestseller and is widely used off-label for weight loss due to its appetite-suppressing effects. Novo Nordisk's Wegovy, which is also semaglutide like Ozempic, is specifically approved for weight loss.
Launch strategy
Novo Nordisk's strategy to launch Ozempic in India
Novo Nordisk plans to launch Ozempic in India before generic versions hit the market. The company had received Indian regulatory approval to import and sell Ozempic last month. "We understand that India is a price-sensitive market and hence we are working hard toward pricing (Ozempic) that is market competitive," Vikrant Shrotriya, Managing Director of Novo Nordisk India, told Reuters.
Portfolio expansion
Ozempic's launch to complete Novo's semaglutide portfolio in India
The launch of Ozempic will complete Novo Nordisk's semaglutide portfolio in India, offering treatments for both diabetes and obesity. This comes as Wegovy faces tough competition from US rival Eli Lilly's Mounjaro, which is approved for both diabetes and weight loss. According to Pharmarack data, Lilly sold 262,000 doses of Mounjaro in October compared to 26,000 doses of Novo's Wegovy.
Market dominance
Novo Nordisk's stronghold in India's diabetes market
Novo Nordisk already has a strong presence in India's diabetes market with its Rybelsus semaglutide tablets and other products. According to Vishal Manchanda, an analyst at Systematix Institutional Equities, "Novo will be better poised to push Ozempic because of its strong brand reputation in the diabetes therapy area." He also hinted that "there is a possibility that Ozempic could be prescribed for those suffering with infertility, sleep apnea and looking to shed some weight."