Biocon Set to Launch Generic Wegovy in India and Canada by 2027

Biocon, the Indian pharmaceutical company best known for its diabetes drugs, is now preparing to launch generic versions of the blockbuster obesity drug Wegovy in India and Canada by late 2026 or early 2027. The move comes as global demand for weight loss medications continues to surge, with Biocon looking to tap into the market by making these drugs more accessible.

Why This Decision

The weight loss drug market is booming, with estimates projecting it to reach $150 billion by the 2030s. In India, too, obesity is a growing concern. Several surveys show a rising prevalence among both adults and children, with recent data indicating that 24% of women, 23% of men, and 3.5% of children under five are overweight or obese. Even the ICMR has flagged the trend, after a Lancet report estimated that India’s obese population could hit 449 million by 2050, meaning one in three Indians may be affected. All of this is expected to drive up demand for cost-effective obesity medications, which Biocon is now aiming to supply.

Other Players Are Already in the Race

Global companies like Novo Nordisk and Eli Lilly are already seeing soaring demand for their obesity drugs. Lilly was the first to launch Mounjaro in South Asia, which saw its sales double within months. Novo followed by launching Wegovy in India for diabetes and weight management. Both are once-weekly injections and have quickly gained popularity.

Unlike Mounjaro, which uses a different compound, Wegovy is based on semaglutide, an ingredient that helps regulate appetite and blood sugar. Once its patent expires in 2026, Indian drugmakers like Biocon, Cipla, and Dr. Reddy’s are expected to enter the space with generic versions that could expand access to more patients.

Biocon’s Plan Ahead

Biocon plans to submit regulatory applications in India by the end of 2026 and aims to launch the drug by early 2027, according to CEO Siddharth Mittal. The company is currently conducting clinical trials that are expected to wrap up in the next 12 to 18 months. In parallel, it is preparing filings for approval in Canada and other emerging markets. Since Canada currently lacks approved drugs specifically for obesity treatment, Biocon intends to file for generic Ozempic in the next three months and for Wegovy by year-end.

Beyond India and Canada, Biocon is also eyeing markets like Brazil, Hong Kong, Mexico, Malaysia, the Middle East, Australia, and New Zealand. In countries where it lacks a direct presence, the company plans to work with local partners to commercialize the product.

What’s Next

Once Biocon clears clinical and regulatory hurdles, it could become one of the first Indian companies to launch a generic version of Wegovy. This will likely make the drug more affordable and accessible for patients in India and Canada, marking a significant step forward in obesity treatment.

(Rh/Pooja Bansal/MSM/SE)