Bangalore-based drugmaker Biocon, is developing its own version of Novo Nordisk’s wildly popular weight-loss drug Wegovy in a bid to be a part of the exploding obesity treatment market that is forecast to reach at least $100 billion by 2030. The company’s CEO Siddharth Mittal said they aim to be one of the early players with their semaglutide product, the active ingredient in Wegovy and Ozempic, even if it requires conducting a clinical trial.
Mittal said Biocon is “striving to be in the market as one of the early players. Either it would be in 2026 or not too late after that.” Semaglutide will lose patent protection in emerging markets such as Brazil, Mexico, and Saudi Arabia in 2026, where Biocon plans to first launch generic versions through local partnerships to ensure supply.
The company will first try to get a waiver on clinical trials from Indian regulators by submitting bioequivalence studies showing their version has an equivalent effect to semaglutide. If a trial is required, Mittal said they are prepared to conduct one next year.
Biocon is also developing a rival to Eli Lilly‘s obesity treatment Mounjaro/Zepbound, containing the active ingredient tirzepatide, though timing and marketing plans were not provided.
Both Novo Nordisk and Lilly have struggled to meet soaring demand for their weight-loss drugs, which helped clinical trial participants lose 15-18% of body weight on average.
Biocon has been spending close to $30 million annually on generics R&D, with 40% dedicated to developing peptides including for weight-loss. The company will likely face competition from other Indian pharma firms such as Dr Reddy’s and Cipla, which also aim to bring Wegovy rivals to India.
Novo plans to launch Wegovy in India by 2026, while Lilly’s Mounjaro is under regulatory review there for weight loss. Biocon has secured UK approval for its version of Novo’s older weight-loss drug Saxenda.
