HYDERABAD, Feb 18 \u2014 Indian drugmaker Dr Reddy\u2019s Laboratories hopes to launch a generic version of Novo Nordisk\u2019s blockbuster weight-loss drug Wegovy at a competitive price that could be up to 60 per cent lower than the branded product, a top executive told Reuters yesterday.<\/p>\n
\u201cFifty to 60 per cent (lower than the innovator) is very comfortable,\u201d said G V Prasad, co-chairman and managing director of Dr Reddy\u2019s, in an interview on the sidelines of the BioAsia conference in Hyderabad. \u201cThat is not bad on the innovator drug.\u201d Wegovy\u2019s monthly price in India ranges from 10,850 Indian rupees (RM466.8) for the lowest 0.25 mg dose to 16,400 rupees for the highest 2.4 mg dose.<\/p>\n
India is turning out to be a key battleground for drugmakers as they compete fiercely for a bigger share of the global market for weight-loss drugs that analysts estimate could be worth US$150 billion (RM585 billion) annually by the end of the \u2060decade. Analysts have previously estimated generic obesity \u2060drugs could be priced at a discount of 50 per cent to \u206060 per cent. Prasad declined to give \u2060a specific price point \u2060for their generic version, but said discounts in that range were feasible. The patent for semaglutide is set to expire in March, paving the way for generic drugmakers \u2060to enter the Indian market. Dr Reddy\u2019s plans to work with local partners in India for the launch and has said it has sufficient production capacity to meet demand.<\/p>\n
Dr Reddy\u2019s last month received an approval from India\u2019s drug regulator to manufacture and sell a generic version of Ozempic, and said that it was awaiting approval \u2060for a generic Wegovy.<\/p>\n
The company aims to sell 12 million injectable semaglutide pens in the first year of launch. \u201cIn the generic industry, everybody is \u2060going to launch, so we\u2019ll have to figure out who will get market share,\u201d Prasad \u2060said. Separately, \u2060Prasad said Dr Reddy\u2019s is also aiming to launch a biosimilar version of cancer therapy rituximab in the United States, pending regulatory approval. The therapy is sold under the brand name Rituxan by Genentech and Biogen.<\/p>\n
Prasad said the company is not immediately looking to expand its US manufacturing footprint. \u2014 Reuters<\/p>\n
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