Lupin
to sell LG Life's diabetes insulin in India, signs 5-year deal
Pharma major Lupin on
Wednesday said it has entered into a strategic distribution agreement with
South Korea-based LG Life Sciences to launch insulin analogue Glargine in
India.
As
per the agreement, Lupin would be responsible for marketing and sales of
Glargine, under the brand name Basugine, in India.
Shakti Chakraborty, group
president, India region formulations, Lupin, said, "I
believe that our entry
into the insulin analogue market with launch of Basugine is a step in the right
direction. Lupin's foray in this segment will help us further strengthen our
diabetes portfolio enabling us to grow deeper into the diabetes segment and
will fuel our growth in the years to come."
The overall diabetes
market size within the Indian pharmaceutical market (IPM) stood at Rs 6,032
crore, growing at 18% (IMS MAT April 2014). The total insulin analogue market
size is valued at Rs 585 crore with 3 year CAGR of 24%. The oral anti-diabetes
drugs (OAD) market is valued at Rs 4,512.8 crore with a growth of 19.74% (MAT
April 2014).
Lupin is ranked seventh in
the diabetic market with a market share of 4.21% valued at Rs 189.98 crore,
growing at 21.83% (MAT April 2014).
"This is a five year
agreement which is renewable. We have just launched this product this month. We
see a lot of opportunity for us in this analogue space," Chakraborty told
dna. The agreement has been worked out on a transfer price, that is, Lupin
would buy the product from LG Life Sciences, a subsidiary company of LG, and
would then sell it at at a decided price.
The total Glargine molecule
market size is Rs 218.5 crore with a 3 year CAGR of 23%, currently controlled
by Sanofi Aventis, Biocon and Wockhardt. Lupin is ranked second in the
conventional insulin market and grew more than the industry at 10.82% in April
2014 (IMSD MAT), while the market grew at 8%.
The primary activity of
insulin, including Insulin Glargine, is the regulation of glucose metabolism.
On developing its own
products in the analogue space, Chakraborty further said that it will depend
upon how this products fairs in the market. "There are companies who
wanted to tie up with us to manufacture and develop products but it is
difficult to say anything on this at this juncture. India is a diabetes capital
and the usage of such products are high. So about having our own product will depend
on how things shape up."
In another development,
Sanofi also announced that it has entered into a marketing and distribution
agreement with Emcure Pharmaceuticals (Emcure) for its oncology portfolio in
India.
As per the agreement,
while Sanofi will continue to own its oncology range - comprising four brands
namely Taxotere, Jevtana, Fludara and Fasturtec, Emcure will market and
distribute these brands through its specialty unit.
Shailesh Ayyangar, vice
president - South Asia and managing director - Sanofi India and Sanofi –
Synthelabo (India), said in a release, "Realising that managing the
complexities of cancer necessitates the availability of a wide range of
products and supporting therapies, we found that combining our efforts and
product range with that of Emcure Oncology, makes immense sense for both
companies."
Sanofi will continue to
provide strong scientific and medical support to Emcure's already
well-established and fast growing oncology business.
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