India's Biocon seeks partner to test generic Wegovy, Ozempic in China
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 20 2024
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Source: reuters
- Biocon Seeking Partner in China: Biocon, an Indian company, is looking for a Chinese partner to conduct clinical trials on generic versions of Novo Nordisk's diabetes drug Ozempic and weight loss treatment Wegovy.
- Challenges with Investment: Biocon finds it challenging to invest $12 to $15 million for the clinical trial in China and prefers to collaborate with a local partner.
- Competition in Generics Market: There are already 15 other generics or biosimilars in development by Chinese drugmakers before the patent protection on semaglutide expires in early 2026.
- High Demand for Drugs: The demand for Ozempic and Wegovy is high in China due to rising obesity rates, with projections indicating significant increases in overweight and obese adults by 2030.
- Impact on Novo Nordisk: The popularity of these drugs has contributed to Novo Nordisk becoming one of Europe's most valuable companies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
