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 ...