Biocon leads Indian charge into weight loss drugs as patents lapse

Biocon Ltd. is pivoting to anti-obesity therapies as patents for the blockbuster medications start to expire, unleashing a wave of generic supply for the market that's expected to touch $100 billion by 2030.

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The Bengaluru-based firm has scored an early win among its peers with the UK approval for the first generic version of liraglutide injectible, which is losing patent protection in November. The weight loss drug, sold under the brand name Saxenda by patent holder Novo Nordisk A/S, is among the first of the groundbreaking medications in this category to lose patent protection.

While Saxenda is far less effective for weight loss than later iterations such as Wegovy and Ozempic, its generic version is just the beginning of a jackpot that drugmakers such as Biocon are awaiting. "My leadership team and organization is ensuring that we do not give up the lead position we have now," chief executive officer Siddharth Mittal said in an interview.

Another 15 peptide formulations are under development, of which one or two drugs will seek regulatory approval this year, he said. Biocon has also filed applications before the US and European regulators for liraglutide.