An employee in protective clothing is seen working inside the research and development center at the Biocon campus in Bengaluru, India. Biocon Ltd., a leading pharmaceutical company, is adapting its strategy to anti-obesity treatments as key patents for blockbuster medications are set to expire, creating opportunities in a market estimated to reach $100 billion by 2030. One notable achievement for Biocon is the UK approval of the first generic version of liraglutide injectible, a weight loss drug originally marketed under the brand name Saxenda by Novo Nordisk A/S, a pioneer in this pharmaceutical category.
The pharmaceutical giant, Biocon, is making significant progress in developing 15 peptide formulations, with plans for a few drugs to seek regulatory approval in the current year. The company, under the leadership of its CEO Siddharth Mittal, is determined to maintain its leading position as competition intensifies in the anti-obesity drug market. Headed by Kiran Mazumdar Shaw, Biocon is at the forefront among Indian pharmaceutical companies, leveraging its expertise as a major supplier of generic medicines to capture a share of the obesity drugs market, which has also attracted industry behemoths like Sun Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., and Cipla Ltd.
In the midst of a global surge in demand for weight loss medications, companies like Biocon are preparing for the expiration of patents on innovative drugs like Ozempic and Wegovy, signaling the entry of cheaper generic alternatives into the market. With a focus on GLP-1 agonists, Biocon is strategically positioning itself to capitalize on the upcoming multibillion-dollar market that will emerge over the next decade. Despite the popularity of weight-loss drugs worldwide, the Indian market is yet to witness widespread adoption, with companies like Novo Nordisk and Eli Lilly planning to introduce their products in India in the coming years. Biocon, for its part, is exploring regulatory pathways and potential partnerships to introduce its anti-obesity drugs in the Indian market.