A major Indian pharmaceutical company has set an ambitious goal to distribute 1.5 million units of generic weight-loss and diabetes medications across more than 75 nations during its initial year of global expansion, according to a company executive.
Hetero Labs, based in Hyderabad and among India’s largest privately-owned drug manufacturers, introduced its injectable semaglutide products last month using the brand names Truglyx, Rolmodl and Moto G. The company’s export strategy focuses on markets throughout Africa, Asia and the Middle East.
The active compound semaglutide, which is found in Novo Nordisk’s popular Wegovy and Ozempic medications, lost patent protection in India this past March. This development has allowed at least twelve domestic pharmaceutical companies to enter the market, with some offering price reductions as steep as 70 percent.
Managing Director Vamsi Krishna Bandi explained the company’s approach during a March interview, stating that while Hetero typically doesn’t enter markets first, they focus on international market development before launching domestically in India this April.
Industry experts project the worldwide obesity medication market could grow to approximately $100 billion by 2030.
“We are generally not first in the market. But when we come in, we come in with an extreme supply efficiency,” Bandi explained. He noted that monthly pricing between $40 and $60 represents a “sweet spot” particularly for developing nations.
The company, which has built its reputation on affordable HIV medications, will initially focus on smaller markets including Kenya, Uganda, Cambodia and Vietnam. Later expansion plans include larger markets such as Indonesia, Saudi Arabia and North African countries.
Hetero is also pursuing entry into the Canadian market for generic weight-loss medications, pending regulatory clearance.
“Canada is the biggest market, but that is having its own regulatory challenges, so hopefully in the next 12 to 18 months those will open,” Bandi said.
In comparison, larger competitor Dr Reddy’s has announced plans to sell 12 million pen units during its first year, while smaller company MSN Laboratories expects to sell 100,000 units in its inaugural year within India.
