Cipla to market Novartis, and J&J’s products, while Alkem
partners Dong A of South Korea
Mumbai: India’s third-largest drug maker Cipla and Mumbai-based
Alkem Pharma are both foraying into the antidiabetic drug market in the country
through partnerships with multinationals for the highly fought over gliptin
class of oral agents.
Cipla has tied up with Swiss drug maker Novartis and US firm
Johnson and Johnson to market their anti-diabetic drug Vildagliptin and
Canagliflozin, respectively. Alkem has teamed up with South Korean drug maker
Dong A to launch the latter’s Evogliptin.
Alkem is in the process of filing for regulatory approvals,
and is expected to launch the drug in six to eight months. “We have just
scratched the surface with regards to gliptins,” said Satyen Manikani, strategy
and business development head at Alkem.
For Cipla, one of the oldest drug makers in the country, it’s
a late entry into gliptin space. “This is for the first time we are entering
the diabetes market in a big way,” Umang Vohra, CEO at Cipla, said during the
company’s third quarter results announcement.
Historically known for its respiratory portfolio, Cipla will
use its over 10,000 strong sales force to make a dent in this space. The other
players who have tied up with Novartis for Vildagliptin are USV Pharma, Emcure,
and Abbott.
Gliptins, or class of DPP4 drug inhibitors, are considered
far more effective in controlling blood sugar levels than the previous class of
drugs.
In India, the gliptin market is one of the most competitive
with over 160 brands vying for a pie of the ₹10,000-crore anti-diabetes market.
Four gliptin drugs — Sitagliptin, Vildagliptin, Saxagliptin and Teneligliptin —
are sub licensed to over 20 drug makers who are engaged in a price war.
Alkem is bringing in a fresh brand. Evogliptin has been
approved in South Korea and the company is waiting for an approval from the
USFDA authorities for its North American launch.
Shares of both Cipla and Alkem Laboratories closed almost
flat on the Bombay Stock Exchange on Wednesday at ₹569.80 and ₹2,155.00,
respectively.
Cipla Q3 Net Up 7%, Misses Estimates
Mumbai: Cipla, India’s fourth-largest drugmaker by revenue,
said thirdquarter net profit rose 7% on strong domestic sales, but fell short
of analysts’ estimates. Net profit attributable to shareholders climbed to ₹4
billion ($62.5 million) in the quarter ended December 31, from ₹3.8 billion a
year earlier. That compared with an average estimate of ₹4.4 billion in profit
drawn from 18 analysts polled by Thomson Reuters. Revenue from India, its
biggest market, rose 15% to ₹16 billion. Domestic revenue accounted for more
than a third of the total revenue, which rose 7% to ₹39.1billion rupees.
