Hopes to log $500 m sales in 10 years from the Lantus generic; To launch in US by 2015 after innovator patent expires.
Biotechnology major Biocon Ltd on Friday launched Basalog, a generic version of French major Sanofi-Aventis’ blockbuster $2 billion plus diabetes drug Lantus, a recombinant long-acting human insulin analogue (a modified version of insulin).
Lantus is projected to cross sales of $2.6 billion by 2010 globally, according to an analyst.
The drug is effective for 24 hours in controlling glucose levels in the blood, sparing diabetes patients frequents pokes of the syringe.
Lantus is Aventis’ flagship product and one of the largest selling diabetes drugs in the world. It is a major growth driver for the company, accounting for 30.8% of sales in the US, 16.3% in Europe and 46.2% in other countries in 2008.
Sanofi-Aventis is looking to double Lantus sales by 2012, according to the company’s annual statements.
Wockhardt Ltd is the other Indian drug maker, which launched in February this year a generic equivalent of Lantus under the brand name Glaritus which is available in cartridges, pens and disposable pens.
But Biocon’s Basalog, which is available in 3 ml and 10 ml vials, has a price advantage with a tag of less than Rs 500 and Rs 1,000, respectively, which is 40% cheaper than equivalent treatments in the market, company officials said at the launch.
The diabetic market in India—both oral and injectable —- is estimated at Rs 1,800 crore per year and insulin alone is pegged at Rs 550 crore, said Rakesh Bamzai, president- marketing, Biocon Ltd.
“Basalog or insulin Glargine is the key to diabetes management paradigm. Its 24-hour profile relives the patient of multiple insulin shots. We should be able to garner $500 million in ten years from this product,” said Biocon’s chairperson and MD Kiran Mazumdar Shaw.
On the product’s global launch, Shaw said “It will take time for us to register as the patent in the US goes off in 2014. By 2015, we should be in the US and Europe.” The firm recently invested €30 million in German firm Axi Corp.
Diabetes management is posing a huge challenge in India with 40 million patients. The number is likely to double in 2025, according to a study in the Journal of the American Medicine Association.
Biocon has also signed up with Bayer, a subsidiary of Germany’s Bayer Healthcare, for marketing and distributing blood glucose meter — Breeze 2. The meter has a cartridge pre-loaded with 10 strips to monitor glucose levels.
Biocon posted consolidated net profit of Rs 24.88 crore for the quarter ended March 31, a 62% drop over the year-ago period.
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