Up to 20 biosimilar or generic copies will vie for market share and add pricing pressure after Denmark-based Novo Nordisk’s semaglutide product loses patent protection in China next year, according to Boston-based global consultancy L.E.K. Consulting. Novo Nordisk’s patent will expire in 2031 in Japan and Europe and 2032 in the US, according to its latest annual report.
“The landscape in China is expected to become even more competitive than in developed markets, where the GLP-1 category is primarily dominated by leading multinational pharmaceutical companies,” said Helen Chen, L.E.K.’s global healthcare and life sciences co-head, in a report on May 15.
GLP-1 drugs mimic natural hormones, which signal the pancreas to release more insulin when blood-sugar levels are high, and also support weight loss by slowing digestion and reducing appetite.
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Driven by sales growth of semaglutide, Novo Nordisk became the 10th largest drug company in the world in terms of revenue. London-based consultancy Evaluate said the firm’s revenue rose 25 per cent to US$42.1 billion last year.
