Biocon Ltd., a pharmaceutical company based in Bengaluru, India, is making significant strides in the field of anti-obesity therapies. With patents for major weight loss medications nearing expiration, Biocon is strategically positioning itself to capitalize on the upcoming wave of generic supply that is projected to reach $100 billion by 2030. The company's early success includes obtaining UK approval for the first generic version of liraglutide injectable, an essential drug losing patent protection and marketed under the brand name Saxenda by Novo Nordisk A/S.
Biocon's Chief Executive Officer, Siddharth Mittal, has emphasized the importance of maintaining their current leadership position in this evolving market landscape. The company has ambitious plans for the development of 15 peptide formulations, with expectations that a couple of these drugs will seek regulatory approval in the current year. Additionally, Biocon has taken steps to file applications with US and European regulators for liraglutide, demonstrating its commitment to expanding its presence globally in the anti-obesity drug market.
Under the leadership of Kiran Mazumdar Shaw, Biocon is spearheading India's efforts to venture into the obesity drugs market, a field that has attracted attention from other major players like Sun Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., and Cipla Ltd. This competitive landscape is driven by the potential for substantial profits as patents expire on innovative medications like Ozempic, Wegovy, and liraglutide, allowing for the introduction of more affordable generic alternatives. The global interest in these medications has prompted pharmaceutical giants such as Novo Nordisk and Eli Lilly & Co. to explore new avenues for growth.