Eli Lilly CEO David Ricks recently said that the pharma major is looking to introduce its obesity medication tirzepatide in the Indian market as early as next year, a Reuters report said on Wednesday.
Ricks expressed the company’s openness to exploring various avenues to expand patient access, provided it aligns with the company’s objectives and supply capabilities. This includes the possibility of allowing authorized generic versions of tirzepatide.
In the United States, the drug is marketed under the brand names Mounjaro for diabetes and Zepbound for weight loss.
Ricks emphasized the importance of India enhancing patent protection, streamlining policies, and establishing a robust social safety net to attract more investment from global pharmaceutical companies. He conveyed these sentiments during his keynote address at the BioAsia conference held in Telangana, India.
Eli Lilly and Danish competitor Novo Nordisk are renowned for their highly effective drugs targeting diabetes and weight loss, categorized as GLP-1 agonists.
Last year, a senior Novo Nordisk official disclosed plans to introduce its blockbuster weight-loss medication, Wegovy, to the Indian market by 2026.
Analyst projections estimate that the global market for these treatments will exceed $100 billion by the end of the decade.
Among the world’s leading generic drug manufacturers, Indian pharmaceutical companies are already in the process of developing their versions of Wegovy. These companies include Zydus Lifesciences, Sun Pharma, Cipla, Dr. Reddy’s, and Lupin.
Notably, Lupin and Cipla serve as Indian distributors for Lilly, handling some of its established diabetes treatments such as Eglucent, Aplevant, Basaglar, and Trulicity.
During his keynote address at the BioAsia conference in Telangana, Lilly CEO David Ricks emphasized the need for India to enhance patent protection, eliminate redundant policies, and establish a robust social safety net to attract increased investment from global pharmaceutical companies. Ricks believes that such measures would stimulate broader interest from multinational corporations and foster greater foreign direct investment in India’s pharmaceutical sector.
He highlighted the importance of revisiting and potentially revising specific regulatory policies in India, suggesting that certain policies may be outdated or redundant, leading to unnecessary delays and added expenses. Ricks noted that these regulatory challenges not only hinder companies like Lilly from introducing new medications to the market but also restrict local biotech firms from effectively exporting their innovations.