The availability of the drug in India may cause a major disruption in the Indian diabetes care drugs market which is expected to register a CAGR greater than 3.5 percent between 2022 and 2027. The COVID-19 pandemic has contributed a major increase in the market.
Lilly is one of several healthcare companies looking to develop a treatment for COVID-19, which has no approved treatment or vaccine and has caused over 370,000 deaths worldwide.
The news comes as the US government intensifies its scrutiny of the pharmaceutical industry and rising US prescription drug prices, a top voter concern and a priority of President Donald Trump's administration.
The request by US Senator Bernie Sanders and Representative Elijah Cummings follows a similar letter they sent last fall calling for an investigation into 14 drug companies over price increases of generic drugs.
Bangalore-based Strides Arcolab and global pharma major Eli Lilly and Co have entered into a strategic partnership to expand delivery of cancer medicines in emerging markets.
Pharma major Dr Reddy's Laboratories has launched Gemcitabine injection in the US market following the approval for its abbreviated new drug application (ANDA) from the US Food and Drugs Administration (FDA).
Onco Therapies, a wholly owned unit of Strides Arcolab, has received US Foods and Drugs Administration approval for Gemcitabine injection, a generic version chemotherapy drug Gemzar marketed by Eli Lilly and Co.