<\/p>\n
Indian drugmaker Biocon is aiming to become the world\u2019s top supplier of insulin in the coming years, its co-founder Kiran Mazumdar-Shaw said, by capturing growing demand for the critical drug while \u2018Big Pharma \u2018shifts its focus to other medicines.<\/p>\n
\u201cIn five years, we could be the number one insulin company in the world,\u201d the 73-year-old pharma billionaire and Biocon executive chairperson said in an interview with Bloomberg Television\u2019s Latitude with Haslinda Amin.<\/p>\n
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\u201cWe are one of the few companies globally that has the scale to address that opportunity.\u201d<\/p>\n
Biocon makes generic drugs and biosimilars, which are biological medicines that are highly similar to brand-name drugs and typically sold for lower prices.<\/p>\n
\nThe Bengaluru-based company is currently the third-largest insulin supplier by volume globally, and has invested \u201cbig time\u201d in ramping up production capacity, Mazumdar-Shaw said.<\/p>\n<\/blockquote>\n
Biocon\u2019s latest ambitions outline the shifting dynamics of the $30 billion global insulin market, as the biggest players are increasingly redirecting resources toward next-generation metabolic medicines such as the glucagon-like peptides, or GLP-1s.<\/p>\n
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Pharmaceutical giants Novo Nordisk A\/S and Eli Lilly & Co, whose growth was powered by insulin sales for decades, are now doubling down on other diabetes and weight-loss drugs that generate higher growth and profits.<\/p>\n
More than 830 million people around the world live with diabetes, and millions depend on insulin therapy to manage the disease. Demand is expected to rise as diabetes prevalence increases across emerging markets in Asia, Africa and Latin America, where access to affordable drugs remains uneven.<\/p>\n
Advocates worry that patients who depend on older insulin therapies are being left behind in the industry\u2019s race to dominate next-gen markets.<\/p>\n
Read: World moves from shortages to possible glut of Covid-19 vaccines [March 2022]<\/p>\n
The current situation is a \u201cwindfall for me because I\u2019m able to now fill in that gap and my insulin business has just taken off,\u201d she said, adding that the firm is looking to add capacity by building partnerships across the world, including companies that have pen and cartridge facilities.<\/p>\n
Mazumdar-Shaw set up Biocon in 1978 as an industrial enzymes producer in a joint venture with an Irish company. Today, the Indian giant has a market capitalisation of over $7 billion.<\/p>\n
Mazumdar-Shaw has a net worth of $2.3 billion from her stakes in Biocon, contract research and development company Syngene International Ltd, and hospital network Narayana Hrudayalaya Ltd, according to the Bloomberg Billionaires Index.<\/p>\n
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Biocon\u2019s strategy diverges from many pharmaceutical peers in India and internationally that are racing to enter the obesity and diabetes drug market. The patent for semaglutide, the key ingredient in Novo Nordisk\u2019s Wegovy and Ozempic, has started to expire globally, including in countries like India and Canada, allowing cheaper versions to start flooding those markets.<\/p>\n
\u201cWe have to be a bit aware that generic GLP-1s is a crowded market,\u201d Mazumdar-Shaw said. \u201cI think being a generics player, we are quite realistic about the fact that there\u2019s a lot of global competition.\u201d<\/p>\n
Dozens of drugmakers in India have so far started selling the drugs domestically, while a handful have gotten approval to start selling in Canada.<\/p>\n
Read:
Aspen Pharmacare eyes Canada GLP-1 generic approval by September
Meds regulator warns against \u2018fake\u2019 Ozempic-like products
Obesity drugs market could grow to $100bn by 2030<\/p>\nPrices for these drugs are hitting \u201crock bottom\u201d in India, Mazumdar-Shaw said, adding that Biocon does not plan on selling its generic versions for semaglutide in the South Asian country.<\/p>\n
It is taking a measured approach on GLP-1s, choosing to target only select markets, and Biocon sees some opportunity for the category in Canada, as well as Latin America, Brazil, the Middle East and Southeast Asia, she said.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n<\/p><\/div>\n
#Indias #pharma #billionaire #eyes #worlds #top #insulin #supplier #crown<\/p>\n","protected":false},"excerpt":{"rendered":"
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