A price war has started in India’s flourishing diabetes drug market, similar to the current tariff battle in the telecom sector.
Glenmark Pharmaceuticals has introduced a patented anti-diabetes drug, called Remogliflozin (brand name Remo), which it produced together with the Japanese Partner Kissei Pharmaceutical Company. Remo has been priced quite low as compared to drugs developed by competing companies.
Remo falls under a drugs class called SGLT2 (sodium glucose co-transporter-2), which offers glycaemic control, helps in weight loss and minimises cardiovascular risks.
This is the first drug introduced by an Indian company to get regulatory approval in the last six years, Glen Saldanha, MD of Glenmark, told Economic Times. He further stated that SGLT2 drugs are the fastest-growing drug type, and Remo will be sold at a good discount compared to the premium brands in this class.
The price fixed for Remo is Rs 25 per day or Rs 750 for a month, and it will compete against Forxiga of AstraZeneca, Invokana of Jansen and Jardiance from Boehringer Ingelheim that cost around Rs 1500 month to a patient.
“In India, there are two buckets of patients – one that goes to specialists and premium doctors and the other that looks for affordable treatment. This allows the highly priced and its cheaper counterparts to thrive.”, Ameesh Masurekar of the All India Chemists and Druggists Association said.