Mumbai: Lupin plans to introduce a new class of diabetes drugs in India through in-licensing agreements in order to enhance its diabetes drugs offering in the domestic market.
The company currently markets oral hypoglycemic agents (OHAs), insulins and novel drugs such as the sodium glucose co-transporter-2 (SGLT-2) inhibitor drug empagliflozin and Dipeptidylpeptidase-4 (DPP-4) inhibitor linagliptin.
Rajeev Sibal, President, India Region Formulations, Lupin, told Mint, “When it comes to diabetes, we have a complete range of products. One thing, we are missing is GLP 1 analog, which we are looking to bring into our portfolio.”
GLP 1 or glucagon helps to normalize blood sugar levels. GLP 1 class of drugs are sold by Novo Nordisk, Eli Lily and Co. and Sanofi, in injectable form in India.
According to data from healthcare information provider Quintiles IMS, Novo Nordisk sells its drug through partner Abbott India under brand name Victoza, Eli Lily under the brand Trulicity, and Sanofi under the brand Lyxumia. The prices of these injections are in the range of Rs3,100 to Rs4,000 reports LiveMint.
“The overall market size of diabetes drugs in India is Rs10,534 crore, according to Quintiles IMS data, and Lupin has a market share of 4.24%. While the domestic diabetes market witnessed 17% growth in the year ended July, the company’s diabetes drugs portfolio posted growth of 36%,” Sibal said.
“Lupin has been one of the most successful companies when alliances are concerned. We have almost 15 alliances, which has helped us grow in the chronic segment,” he added.
Vishal Manchanda, an analyst at Nirmal Bang Securities, said, “In-licensing strategy pursued by Lupin has clearly helped the company accelerate its growth trajectory in the domestic market. These (in-licensed) drugs usually fetch much higher prices than branded generics and profits are shared by the companies involved in the licensing deal.”
“Indian companies are actively looking at in-licensing opportunities to push growth and Lupin is no exception. This is because the industry growth rate of over 15% that was seen in the domestic market earlier has been slowing due to price restrictions of government, rising competition, and limited new product launches,” said Surajit Pal, an analyst at Prabhudas Lilladher.
“If you see our track record, we have grown higher than the market and we will continue to do so going forward because we are strongly placed as far as our product portfolio is concerned,” Sibal said.