India to Incentivize Local Manufacturing of Diabetes and Obesity Drugs
India is gearing up to offer incentives to promote the local manufacturing of GLP-1 drugs, commonly used to treat diabetes and obesity, in 2026. With the patent on semaglutide, a key ingredient in popular drugs like Wegovy and Ozempic, set to expire in India in 2026, domestic drug manufacturers have applied for the government’s production-linked incentive (PLI) scheme.
The global market for weight-loss drugs is expected to exceed $100 billion by the end of the decade, making it an attractive sector for drugmakers. India, with high obesity rates and a significant diabetic population, is keen on boosting local production in this space.
Leading Indian pharmaceutical companies like Biocon, Sun Pharma, Cipla, Dr Reddy’s, and Lupin are part of the initiative. These companies have labeled their GLP-1 drugs as ‘anti-diabetic’ in their applications, with potential for obesity treatment pending regulatory approvals.
India’s move to incentivize local drug manufacturing aligns with its broader strategy to boost domestic production across various sectors since 2020, setting the stage for a potential boost in the pharmaceutical industry.
Published on 28 June 2024, 12:57 IST
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