By Rishika Sadam
HYDERABAD (Reuters) -Biocon aims to launch generic copies of the blockbuster weight-loss drug Wegovy in India and Canada within the next two years, a top executive told Reuters, seeking to tap into a market that is estimated to grow to $150 billion globally by the early 2030s.
The push comes after Danish drugmaker Novo Nordisk and U.S.-based rival Eli Lilly saw skyrocketing demand for their obesity drugs Wegovy and Zepbound.
Biopharmaceutical company Biocon plans to submit a request for approval to India’s drug regulator by the end of 2026 and potentially launch in 2027 through a partner, CEO Siddharth Mittal said in an email interview on Tuesday.
The company, which also makes insulin products, expects to complete late-stage trials within the next 12 to 18 months, he added.
“Biocon is actively progressing with filings for semaglutide in Canada as well as many other emerging markets,” Mittal said.
Semaglutide is the active ingredient in Novo’s drugs Ozempic and Wegovy, used for diabetes and weight-loss management.
Indian generic drugmakers, including Dr Reddy’s and Cipla, have been racing to produce cheaper versions of Wegovy when semaglutide goes off patent in 2026.
Novo launched Wegovy in India for diabetes and weight-loss management in June after Lilly’s Mounjaro sales doubled within a few months following its launch in the south Asian country.
Biocon plans to file with Canadian regulatory authorities this quarter for generic versions of Ozempic and later this year for Wegovy versions.
“Subject to approval, we could look at a market launch in late 2026 or early 2027,” he said.
Canada has not approved any such therapies yet, the company said.
In addition to Canada, Biocon will focus on large emerging markets such as Brazil and Mexico in Latin America, Malaysia and Hong Kong, countries in the Middle East, as well as Australia, and New Zealand to launch obesity drugs, according to the CEO.
In markets where Biocon does not have a direct presence, it is seeking local partnerships to commercialise its products, Mittal said.
(Reporting by Rishika Sadam; Editing by Eileen Soreng)
Comments