There are several domestic drug companies that seem to be all prepared to transform diabetes therapy with the launch of the blockbuster drug Empagliflozin at a fraction of the innovator’s price, in a recent development.
Expected Decrease In Dibeties Drug Cost
Soon this affordable generics will hit the market within days, following the expiry of Boehringer Ingelheim’s patent on Empagliflozin on March 11 as per the information provided by the industry sources in a media interaction.
This launch of generic Empagliflozin holds a great significance as it will be used to treat diabetes related comorbidities, including heart failure.
Besides this the launch of this revolutionary drug promises to slash therapy costs further making it more accessible to millions of diabetics.
This will also help in easing the financial strain of this debilitating disease.
What To Expect?
Considering the scenario, there are a lot of manufacturers who are looking to launch the drug including the popular names from the industry as Mankind Pharma, Torrent, Alkem, Dr Reddy’s and Lupin.
Here mentioned, Mankind Pharma is the country’s fourth-largest firm by market share.
This firm also plans to offer Empagliflozin at one-tenth the innovator’s Rs 60 per tablet, as per the information provided by the sources.
While disrupting the high-growth diabetes therapy market which is valued at nearly Rs 20,000 crore, its most generic versions will cost Rs 9-14 per tablet.
There is a huge difference as the numbers are up by 43% from Rs 14,000 crore in 2021.
So far, the market was bolstered by Torrent Pharmaceuticals’ acquisition of three Empagliflozin brands from Boehringer Ingelheim last year.
This shift is critical to India as the country is facing a staggering public health burden—10.1 crore people who are living with diabetes as per the International Diabetes Federation.
It appears that 10.1cr Indians are living with diabetes and most of them end up paying out of pocket.
But now, it has to change as the Indian drug companies are set to revolutionize diabetes treatment with affordable generic versions of Empagliflozin, following the expiry of its patent.
This move is estimated to significantly cut costs by further improving the access for over 10 crore diabetics.
The other manufacturers such as Mankind Pharma and others seem to be ready to offer this drug at a fraction of its original cost.
This would definitely ease the financial burdens on these patients further enhancing their heart and kidney health.
