HYDERABAD: Indian drugmaker Dr Reddy’s Laboratories hopes to launch a generic version of Novo Nordisk’s blockbuster weight-loss drug Wegovy at a competitive price that could be up to 60% lower than the branded product, a top executive told Reuters on Tuesday (Feb 17).
"Fifty to 60% (lower than the innovator) is very comfortable," said G V Prasad, co-chairman and managing director of Dr Reddy’s, in an interview on the sidelines of the BioAsia conference in Hyderabad.
"That is not bad on the innovator drug." Wegovy's monthly price in India ranges from 10,850 Indian rupees (US$119.65) for the lowest 0.25 mg dose to 16,400 rupees for the highest 2.4 mg dose.
India is turning out to be a key battleground for drugmakers as they compete fiercely for a bigger share of the global market for weight-loss drugs that analysts estimate could be worth $150 billion annually by the end of the decade.
Analysts have previously estimated generic obesity drugs could be priced at a discount of 50% to 60%. Prasad declined to give a specific price point for their generic version, but said discounts in that range were feasible.
The patent for semaglutide is set to expire in March, paving the way for generic drugmakers to enter the Indian market. Dr Reddy's plans to work with local partners in India for the launch and has said it has sufficient production capacity to meet demand.
Dr Reddy's last month received an approval from India's drug regulator to manufacture and sell a generic version of Ozempic, and said that it was awaiting approval for a generic Wegovy.
The company aims to sell 12 million injectable semaglutide pens in the first year of launch.
"In the generic industry, everybody is going to launch, so we'll have to figure out who will get market share," Prasad said.
Separately, Prasad said Dr Reddy's is also aiming to launch a biosimilar version of cancer therapy rituximab in the United States, pending regulatory approval. The therapy is sold under the brand name Rituxan by Genentech and Biogen.
Prasad said the company is not immediately looking to expand its US manufacturing footprint. - Reuters
