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 is planning to expand exports 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 companies are offering the drug at discounts of up to 70%.
Read Also – U.S. Food and Drug Administration to convene expert panel to evaluate expanded access to select peptides
Hetero plans to launch the drug in India in April, initially focusing on building market share in overseas markets, Managing Director Vamsi Krishna Bandi told Reuters in March.
Analysts estimate that 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 producing low-cost HIV medicines, plans to initially target smaller markets such as Kenya, Uganda, Cambodia, and Vietnam before expanding into larger regions including Indonesia, Saudi Arabia, and North Africa, according to Managing Director Vamsi Krishna Bandi.
The company is also exploring entry into Canada with generic weight-loss drugs, subject to regulatory approvals.
“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 competitor Dr Reddy’s Laboratories has said it aims to sell 12 million pens in its first year, while smaller firms such as MSN Laboratories are targeting sales of around 100,000 units in their first year in India.
