Price of diabetes drug to halve soon
There is some
good news for the over 72 million diabetics in India, with a cheaper version of
a blockbuster drug hitting the market on December 10. The domestic
pharmaceutical market is abuzz with news of over 15-20 companies launching
generic versions of the widely-prescribed anti-diabetic drug Vildagliptin, with
its price expected to crash by half.
The potential of
more affordable diabetic care comes in the wake of Swiss major Novartis-owned
Vildagliptin losing patent on Monday — a development closely watched for
months. Dozens of companies have readied plans to get a slice of the action in
the growing Rs 14,000-crore diabetes therapy market, with the number of players
expected to cross 50 soon.
With the drug’s
patent expiry, the price may drop to Rs 6 per tablet over the next few months,
from the existing Rs 20-25 each. What makes the patent expiry significant for
Indian pharma is that Vildagliptin is the first among the gliptins, a
relatively new class of oral diabetes drugs, to get off the block, and also the
first diabetes medicine whose end of patent life is being seen by industry.
The innovator
brand Galvus (along with combination of Metformin) cornered around Rs 600
crore, a lion’s share of total Vildagliptin market of Rs 950 crore (moving
annual total (MAT) November 2019). The company also has agreements with USV,
Cipla and Abbott, with their brands Jalra, Vysov and Zomelis respectively
available in 50mg Vildagliptin, and in combination with Metformin.
Days before the
launch, the market started hotting up with Mumbai-based Eris Lifesciences
acquiring Zomelis from Novartis for around Rs 100 crore, and USV reportedly
being in talks to acquire Jalra. When contacted, a Novartis spokesperson said,
“We will continue to serve people living
with diabetes through the innovator molecule in India, Galvus.”
Several players
are expected to launch generic Vildagliptin including Zydus, Panacea Biotec,
Emcure, Eris, Macleods, Aristo Pharma, Cipla, Micro Labs, USV, Intas, Mankind
Pharma, as well as smaller regional players.
“This is a high-volume and high-growth market
so there is room for good players. Pricing can vary, depending on the
differential positioning and brand equity of the company”, Emcure Pharma
executive director, Namita Thapar told TOI, adding it will enter
the market this month.
“Price per tablet will come down hence market
will shift to a more affordable treatment, which can then be prescribed to
larger set of patients”, Rajesh Jain, MD Panacea Biotec, said.
Great Post! Keep up the good writing.
ReplyDelete