Pharma major Biocon is focusing on anti-obesity therapies as patents of blockbuster drugs will start expiring soon. According to a report by Bloomberg News, the patient expiry will open doors to a wave of generic supply for the market that’s expected to touch $100 billion by 2030.
Biocon is reportedly a step ahead of its competitors with the UK approval for the first generic version of liraglutide injectible, which is losing patent protection in November this year, Bloomberg reported.
The weight loss drug which is sold under the brand name Saxenda by patent holder Novo Nordisk A/S, is among the first of the groundbreaking medications in this category to lose patent protection.
Although Saxenda is less effective than other drugs like Wegovy and Ozempic, its generic version is just the beginning of a jackpot that drugmakers like Biocon are awaiting. “My leadership team and organization is ensuring that we do not give up the lead position we have now,” Chief Executive Officer Siddharth Mittal said in an interview, as quoted by Bloomberg.
Mittal also revealed that 15 more peptide formulations are under development, of which one or two drugs will seek regulatory approval this year. Biocon has also filed applications before the US and European regulators for liraglutide, Bloomberg reported.
Led by Kiran Mazumdar Shaw, Bicon is one of the world’s largest supplier of generic medicines. According to Bloomberg, the global popularity around these medicines has already lured sector giants Sun Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., and Cipla Ltd., who are also developing their anti-obesity drugs.
These weight loss drugs have already produced record profit for innovative pharmaceutical companies from Novo Nordisk to Eli Lilly & Co.
Both Ozempic and Wegovy by Novo Nordisk are made with the same active ingredient, semaglutide, while Eli Lilly’s tirzepatide drug is sold as Zepbound.
It is noteworthy that Biocon has not yet filed for liraglutide approval in India and it is working with the local drug regulators to see if the requirement of a clinical trial can be waived, Bloomberg reported. Reportedly, the company is also looking for a partner to market its obesity drugs in India after it sold its branded formulations business to Eris Lifesciences Ltd. last month.
Over the next 20 years, “this is a very attractive space”, Mittal said, as quoted by Reuters. The UK approval shows that Biocon can confidently “capture the opportunity in the coming years.”
