Biocon, one of India’s leading drugmakers, is aiming to tap into the growing weight-loss market by seeking approvals for generic versions of Ozempic and Wegovy as their patents near expiry next year. The company is seeking regulatory approvals for generic Ozempic by September from Canadian authorities, along with other emerging markets, Bloomberg News reported.
“I would say that we have the best chance in Canada to start launching off-patent semaglutide. If everything goes seamlessly, then Biocon can receive approval to sell sometime in 2026,” the outlet quoted Bengaluru-based company’s managing director Siddharth Mittal as saying.
With this regulatory approval, the company will join the club of the world’s largest generic drugmakers. Semaglutide’s patent is expiring in Canada, which means other companies can start selling cheaper and generic versions of the drug.
Danish drugmaker Novo Nordisk, which currently holds 70 per cent of the global market of semaglutide, will soon lose that exclusivity, as the market opens to competitors like Biocon and Sandoz. Its patent in India for these drugs is expiring around April 2026, Bloomberg News reported.
However, the patent expiration does not include the US, Europe or Japan.
Biocon aims emerging markets
Not just Biocon, but Israel’s Teva Pharmaceutical and China’s Gan & Lee Pharmaceutical are also preparing to enter the market for generic obesity drugs. Biocon, however, is specifically trying to be the first to offer a semaglutide generic in Canada, the outlet further reported.
The Kiran Mazumdar-Shaw-led drugmaker is planning to expand in “emerging markets” where these drugs aren’t widely available yet. For that, it is planning to sell GLP-1 drugs not just in Canada, but also in Latin American countries as well as in Asia-Pacific markets, including India.
For those unware, it was the first generic drugmaker to receive approval to sell the generic version of liraglutide. It is Novo’s older weight loss and diabetes drug which was sold in the UK as Victoza and Saxenda last year.
Wegovy is prescribed with exercise and a low-calorie diet to support weight loss and weight management in adults and children aged 12 and above who are living with obesity, Healthline reported.
Biocon will “soon” start phase-3 trials for semaglutide in India and will file for the regulatory approval next year, Bloomberg News reported.
The company said that it will not launch these drugs at a very low proice as the price at which Novo launched “is quite reasonable” – Bloomberg quoted Mittal as saying. Novo launched Wegovy in India in June.
Cipla and Torrent Pharmaceuticals are also developing these drugs and will market off-patent versions in India.