Large US Drug Makers Highlight Indian Market For Their Blockbuster Drugs Including For Weight Loss

Eli Lilly And Co’s LLY CEO, David Ricks, shared the pharmaceutical giant’s plans to introduce its obesity drug, tirzepatide, in India as early as next year. 

Tirzepatide, marketed as Mounjaro for diabetes and Zepbound for weight loss in the United States, holds promise for the Indian market. 

Ricks underscored the need for India to enhance patent protection, eliminate redundant policies, and establish a robust social safety net to attract increased investments from global pharmaceutical companies. 

Citing Ricks’ remarks at the BioAsia conference, Reuters highlighted the pivotal factors that could drive more significant participation from international drugmakers in India.

Lilly faces competition in the diabetes and weight-loss drug space from Danish rival Novo Nordisk A/S NVO. 

Last year, a senior executive from Novo Nordisk disclosed plans to introduce Wegovy, their blockbuster weight-loss drug, to the Indian market by 2026.

As pharmaceutical companies like Eli Lilly and Novo Nordisk continue to expand their reach and bring innovative solutions to diverse markets, India emerges as a crucial frontier in their strategic plans. 

U.S. pharma giant Bristol Myers Squibb & Co BMY is set to bolster its research and development footprint in India. CEO Christopher Boerner unveiled plans during the BioAsia conference, stating that the recently inaugurated $100-million facility in Hyderabad is slated to become the company’s largest unit outside the U.S. by 2025. 

Also Read: Biden Administration To Send Pharma Companies Opening Offers For Medicare Program’s First Ever Drug Price Negotiations.

Boerner emphasized the facility’s role in advancing drug development through integrating digital technologies and artificial intelligence, with expectations of employing over 1,500 personnel.

Boerner revealed that the India unit, in collaboration with the Biocon Group’s Syngene International, is actively engaged in 17 clinical trials targeting new therapies for various medical conditions, including cancer, blood disorders, and heart diseases. 

Despite its notable presence, Bristol Myers is yet to introduce its cancer cell therapies Abecma and Breyanzi in India. 

However, the company’s other cancer drugs, namely nivolumab, and ipilimumab, are available under Opdyta and Yervoi (commonly known as Opdivo and Yervoy).

When questioned about plans to launch or seek approval for its cell therapies in India, a Bristol Myers spokesperson refrained from commenting on ongoing discussions with regulatory bodies. 

Reuters noted that the company is in the process of developing next-generation cell therapies for autoimmune diseases, including multiple sclerosis, with plans to leverage AI technologies for accelerated development.

With looming patent expirations for top-selling drugs like the blood thinner Eliquis and cancer immunotherapy Opdivo in key markets later this decade, Bristol Myers has strategically pursued deals to replenish its drug development pipeline. 

The company remains focused on navigating the evolving pharmaceutical landscape while fostering innovation in its global operations, especially in burgeoning markets like India.

Earlier this month, Bristol-Myers Squibb said that its fourth-quarter revenues were $11.48 billion, up 1% Y/Y, beating the consensus of $11.19 billion, primarily due to higher sales of new product portfolio, as well as Eliquis and Opdivo, partially offset by lower sales of Revlimid.

Price Action: LLY shares are down 1.58% at $752.62 on the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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