Mumbai: Lupin Ltd, India’s third largest drugmaker, has partnered with Eli Lilly and Co. (India) Pvt. Ltd, a subsidiary of US-based pharmaceutical firm Eli Lilly and Co, to market the latter’s diabetes drug Eglucent in India.
Lupin will market Eglucent, a new brand of Eli Lilly’s rapid-acting insulin analogue lispro, in India through its own specialty field force, while Eli Lilly will be responsible for manufacturing and import, according to a statement released by Lupin.
Eglucent, an injectable medication designed to improve blood sugar control in patients with type 1 and 2 diabetes, will be available in the Indian market in cartridge and disposable pen form.
Eli Lilly will continue to sell the product under the brand name Humalog through its existing channels. Lupin had earlier collaborated with Eli Lilly in 2011 to promote and distribute the Huminsulin range of products in India and Nepal.
The company is already in partnership with Germany-based Boehringer Ingelheim for marketing two diabetes drugs—empagliflozin and linagliptin—in India.
Lupin is the fifth largest company in the anti-diabetes segment in the country with a market share of 6.34%. The company’s diabetic portfolio comprises of oral anti-diabetes drugs and injectable drugs such as human insulin and insulin analogues.
Lupin’s anti-diabetic portfolio contributed 16% of its India formulations sales of Rs3,392 crore in the year ended March.
The Indian diabetes market, valued at Rs9,272 crore, is growing at an annual pace of 19%, according to market research firm IMS Health. The total insulin market in the country is estimated at Rs2,207 crore, out of which the insulin analogue market size is worth Rs1,106 crore.
“We are excited about expanding our partnership with Eli Lilly with the launch of Eglucent. Our entry into the rapid-acting insulin analog segment will not only bolster our existing diabetes portfolio but will also go a long way in strengthening our position in the Indian pharmaceutical market,” Shakti Chakraborty, group president, India region formulations at Lupin, said.
Indian pharmaceutical companies, battling increasing competition and pricing pressures in the domestic branded generics market, have been entering in-licensing and co-marketing deals with multinational companies to bring new drugs into the Indian market.
Shares of Lupin rose 0.7% to close at Rs1,513.25 on the BSE, while the benchmark Sensex declined 0.35% to end at 26,559.92 points on Thursday.