Ajanta partners Biocon, taps EMs for generic obesity drug

As drugmakers race to prepare for the launch of the generic version of the blockbuster weight loss drug semaglutide in India in March, Mumbai-based Ajanta Pharma sees a plumper opportunity overseas.

- Jessica Jani & T. Surendar

Ajanta, which gets over 40% of its revenue from these markets, has inked an agreement with Biocon to distribute generic semaglutide in 26 countries in Asia and Africa next year, as patents expire. Under the deal, Ajanta will procure the finished product—the semaglutide injectable pen—from Biocon and distribute it under its own brand exclusively in 23 countries and semi-exclusive in the three other countries, the company’s top executive told Mint in an interview.

Ajanta is betting on strong ground presence in these markets, increasing demand and assured supply from Biocon to gain significant overseas share. “It's a milestone moment for us,” said managing director Yogesh Agrawal.

“We all know GLP-1s are doing exceptionally well. The market for GLP-1s globally is about $55 billion. Historically, we have not seen any blockbuster product like this,” he added.