In theory, India might soon become much thinner. The Danish pharmaceutical company Novo Nordisk’s semaglutide patent, which powers the popular weight-loss medications Wegovy and Ozempic, expires on Friday. This will enable local pharmaceutical firms to produce more affordable versions or generics, sparking a flurry of competition that could cut costs by over half and quickly increase access for Indians and, eventually, those in other nations as well.
The semaglutide market may potentially reach $1 billion domestically with the correct pricing and acceptance, according to investment bank Jefferies, which has dubbed it a possible “magic-pill moment” for India. Within months, analysts predict that about fifty branded generics of semaglutide will hit the market; this is a common occurrence in India’s extremely competitive pharmaceutical sector. About 30 branded versions of the diabetes medication sitagliptin emerged within a month of its 2022 patent expiration, and almost 100 within a year.
The rise in weight-loss medications is driven by wealthy Indians.
By 2030, the pharmaceutical sector in India, which is currently valued at roughly $60 billion, is predicted to double. A large portion of it is based on generics, a manufacturing powerhouse that currently creates the conditions for intense competition over semaglutide. This costly injection, which is currently mostly reserved for wealthy patients, may soon become much more widespread.
These medications, which were once created to treat diabetes, are now being heralded as revolutionary weight loss tools that provide outcomes that few other therapies could equal. Semaglutide is a member of a class of medications called GLP-1 receptor agonists, which imitate a hormone that controls blood sugar and hunger. The medications cause patients to feel fuller sooner and remain fuller longer by increasing insulin release and delaying stomach emptying. They were first created to treat diabetes, but they are now among the most popular methods for losing weight worldwide.
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