JOHANNESBURG, Nov 11 (Reuters) – South Africa’s Aspen Pharmacare said on Wednesday it had received regulatory approval in Brazil and South Africa for its generic injectable semaglutide, paving the way for launches in two key emerging markets.
• Aspen is betting on generic versions of semaglutide, the active ingredient in Novo Nordisk’s diabetes drug Ozempic and weight-loss treatment Wegovy, to drive growth in emerging markets and selected international markets
• The company said it expects to begin commercialising the product in Canada, Brazil and South Africa in the coming months after semaglutide lost patent protection, triggering a race among drugmakers to launch lower-cost versions
• In South Africa, sales of GLP-1 medicines have grown to nearly 3 billion rand ($182 million), with Eli Lilly’s Mounjaro accounting for more than half of the market, according to Aspen, highlighting strong demand for obesity and diabetes treatments
• Aspen is Lilly’s distributor for Mounjaro in sub-Saharan Africa
• The company is sourcing the active pharmaceutical ingredient from third-party suppliers, including India’s Dr. Reddy’s Laboratories for the Canadian market($1 = 16.5070 rand)
(Reporting by Nqobile Dludla in Johannesburg and Raechel Thankam Job in Bengaluru. Editing by Mrigank Dhaniwala and Mark Potter)
Source: finance.yahoo.com
