Biocon Ltd is spearheading India’s foray into the weight loss drug market, capitalizing on the impending expiration of patents for some major medications. Recently, the pharmaceutical company secured approval from the UK regulator for the first generic version of liraglutide injectable, a drug facing patent expiration in November.
One of the pioneers in the field, Novo Nordisk’s weight loss medication, branded as Saxenda, is among the first anti-obesity drugs to lose patent protection. “My leadership team and organization are committed to maintaining our current leading position,” stated Biocon’s Chief Executive Officer (CEO), Siddharth Mittal. He also mentioned that the company is actively developing around fifteen peptide formulations, with plans for one or two drugs to seek regulatory approval this year. Additionally, Biocon has initiated applications with US and European regulators for liraglutide.
Biocon has yet to file for liraglutide approval in India, although the domestic market shows significant interest. As reported by mint, with the anti-obesity market projected to reach $100 billion by 2030, numerous pharmaceutical companies are eager to enter the fray.
