Novo Nordisk bets on blockbuster drug to retain top spot

Multi-national drug companies are queuing up to enter India and tap its growing anti-diabetes drug market. But Novo Nordisk, which has been in the Indian insulin market for 75 years, is not worried, reports CNBC-TV18's Archana Shukla.

India is a home to 22% of the global diabetic population and a key market for insulin makers. No wonder competition is stiff. New players like Eli Lily and Boehringer Ingelheim are entering through tie-ups. Existing players are ramping up production and beefing up their product pipeline. But, market leader Novo Nordisk, which enjoys a 60% share of the Rs 1,200 crore Indian insulin market is not worried. Jesper Hoiland, senior vice president, international operations, Novo Nordisk, said: "In the last 25 years, Novo Nordisk has retained its position, may be 1% up or down, but there has been no radical changes in the market dynamics. We have a lions share in the Indian market. The market has grown 15% and taking into account the number of doctors we reach out to, Novo Nordisk has grown 20% year-on-year." Market expansion is key to its continued success. So, Novo Nordisk is tying-up with state governments like Goa, Bihar and Gujarat for diabetes screening projects. While it will concentrate on its existing commercial pacts, with Torrent Pharma for manufacturing and Abbott for marketing, the company will look at strengthening its R&D pipeline through local collaborations in India. "There are many companies who are doing good research in the protein side in India. We could look at partnerships with these firms for early stage developments," Hoiland said. Novo Nordisk also believes that its strong product pipeline, which also includes blockbuster once-daily anti-diabetic medication Victoza, will help it retain the top slot across markets. But, experts warn that Pfizer's recent failure to get a strong foothold in the Indian insulin market is just a one-off, and Novo Nordisk will have to work hard to stave off increasing competition. Also watch the accompanying video.