Generic Weight Loss Drugs Boosted by UK Approval for Biocon

livemint.com:

Biocon is building capability “to take advantage of what could be a very, very strategic peptide opportunity with GLPs at the center," Group Chief Executive Officer Peter Bains told analysts in November. The loss of exclusivity for GLPs will create a multibillion dollar market over the next 10 years and this opportunity was “very complementary" to Biocon’s current biologics business, according to Bains. In the UK, Mittal said the company will wait for the publicly-funded, National Health Service, to issue a tender to launch its liraglutide injectible.

Biocon’s UK application was filed through its European partner, Zentiva SA. The total addressable UK market opportunity for GLP-1 in diabetes and weight loss is $425 million, according to a March 27 statement by Biocon. Biocon’s shares rose 1.1% on Monday in Mumbai, pushing this year’s gains to 9.7%, data compiled by Bloomberg show.

Despite the weight-loss segment being a rage globally, these drugs are yet to make an widescale appearance in India whose 1.4 billion-plus population is rapidly getting more affluent and obese. Novo Nordisk, which only sells its semaglutide-based pill Rybelsus in India, is planning to introduce injectibles Wegovy and Ozempic in 2026, Reuters reported in February. Eli Lilly is conducting clinical trials in India for weight-loss pill, orforglipron.

Biocon has not yet filed for liraglutide approval in India and it is working with the local drug regulators to see if the requirement of a clinical trials can be waived, Mittal said. The company is also looking for a partner to market its obesity drugs in India after it sold its branded formulations business to Eris Lifesciences Ltd. last month.