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Biocon Ltd. is shifting its focus towards anti-obesity therapies as it prepares for the patent expiration of several of its blockbuster medications. This shift comes as the market for anti-obesity therapies is estimated to grow to $100 billion by 2030, driven by the release of generic alternatives.

The Bengaluru-based pharma giant, Biocon, has already gained a significant advantage over its competitors by obtaining UK approval for the first generic version of liraglutide injectible. This weight loss drug, originally marketed as Saxenda by Novo Nordisk A/S, is set to lose patent protection in November. It is one of the pioneering medications in its category to face patent expiration.

India – the pharmacy capital of the world

Biocon, under the leadership of Kiran Mazumdar Shaw, is one of the leading Indian pharmaceutical companies that leverages the nation’s status as the world’s largest supplier of generic medicines. While Saxenda may be less potent for weight loss when compared to newer iterations like Wegovy and Ozempic, the approval of its generic variant marks just the initial phase of what Biocon and other drugmakers anticipate as a lucrative opportunity. The Biocon CEO, Siddharth Mittal, has emphasized the organization’s commitment to maintaining its leadership position in this emerging market. With approximately 15 peptide formulations in various stages of development, Biocon aims to seek regulatory approval for one or two drugs this year, including liraglutide applications before US and European regulators. This momentum has attracted other industry heavyweights such as Sun Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Cipla Ltd, etc., who are also actively pursuing their developments in anti-obesity drugs. This trend reflects the global interest and investment in this therapeutic area.

The original patent holders made tonnes of money

Weight loss drugs have produced record profits for innovative pharmaceutical companies from Novo Nordisk to Eli Lilly & Co. The gold rush will now spread to generic makers like India’s biggest players when patents expire in the coming years on Ozempic and Wegovy, allowing cheaper copies of the medication to flood the market and plug supply gaps.

Novo Nordisk’s Ozempic and Wegovy are made with the same active ingredient, semaglutide, while Eli Lilly’s tirzepatide drug is sold as Zepbound. 

Biocon to encash the opportunity to the fullest extent

Biocon is strategically positioning itself to capitalize on a potentially pivotal opportunity centered around GLPs (glucagon-like peptides), as highlighted by Group Chief Executive Officer Peter Bains in discussions with analysts in November.

Bains emphasized the significance of the forthcoming multibillion-dollar market that will emerge over the next decade following the loss of exclusivity for GLPs. He described this opportunity as “very complementary” to Biocon’s existing biologics business.

In the UK market, Biocon plans to await the tender floated by the publicly-funded National Health Services before launching its liraglutide injectible. The application for UK approval was facilitated through Biocon’s European partner, Zentiva SA. The estimated total addressable market opportunity for GLP-1 in diabetes and weight loss in the UK alone amounts to $425 million, as indicated in a statement released by Biocon on March 27.

India’s market for weight-loss drugs is growing fast

Despite the global surge in popularity of weight-loss drugs, their widespread availability in India, with its rapidly growing affluent and obese population exceeding 1.4 billion, remains limited. Novo Nordisk, for instance, currently markets only its semaglutide-based pill Rybelsus in India, with plans to introduce injectables Wegovy and Ozempic in 2026, as reported by Reuters in February. Eli Lilly is also conducting clinical trials in India for its weight-loss pill, orforglipron.

While Biocon has yet to file for liraglutide approval in India, CEO Mittal stated that the company is talking to local drug regulators to waive the requirement for clinical trials. Moreover, Biocon is seeking a partner to market its obesity drugs in India following the recent sale of its branded formulations business to Eris Lifesciences Ltd.

Looking ahead, Mittal expressed confidence in the attractiveness of this sector over the next two decades, particularly highlighting the UK approval as evidence of Biocon’s readiness to seize opportunities in the years to come.

For more details, one may visit Biocon’s site