Friday, February 16, 2018

Cipla, Alkem Join Hands with MNCs for Anti-diabetic Foray - PARTNERSHIPS FOR GLIPTIN CLASS OF ORAL AGENTS


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. 

Source: THE ECONOMIC TIMES-8th February,2018