(Corrects typo in headline; no changes to text)
By Rishika Sadam
HYDERABAD, April 16 (Reuters) – Hetero Labs, one of India’s largest privately held drugmakers, aims to sell 1.5 million pens of generic weight-loss and diabetes drugs in the first year as it rolls out the products in more than 75 countries over the next few years, a top executive said.
The Hyderabad-based company launched injectable semaglutide last month under the brand names Truglyx, Rolmodl and Moto G and plans to export to parts of Africa, Asia and the Middle East.
Semaglutide, the active ingredient in Novo Nordisk’s Wegovy and Ozempic, went off patent in India in March, opening the market to at least a dozen local drugmakers. Some are offering the drugs at discounts of up to 70%.
Hetero plans to launch the drug in India in April, focusing on building market share overseas to begin with, Managing Director Vamsi Krishna Bandi told Reuters in March.
Analysts estimate the global obesity drug market could reach around $100 billion by 2030.
“We are generally not first in the market. But when we come in, we come in with an extreme supply efficiency,” Bandi said. He added that a monthly price of $40 to $60 was a “sweet spot” especially for emerging markets.
Hetero, known for low-cost HIV drugs, will first target smaller markets such as Kenya, Uganda, Cambodia and Vietnam before expanding to larger ones including Indonesia, Saudi Arabia and North Africa, Bandi said.
The company is also seeking to enter Canada with generic weight-loss drugs, subject to regulatory approval.
“Canada is the biggest market, but that is having its own regulatory challenges, so hopefully in the next 12 to 18 months those will open,” he said.
Larger rival Dr Reddy’s has said it aims to sell 12 million pens in its first year, while smaller players such as MSN Laboratories is eyeing sales of 100,000 units in the maiden year in India.
(Reporting by Rishika Sadam; Editing by Nivedita Bhattacharjee)
Comments