A major step has been taken in the field of diabetes care by Wockhardt Limited, a well-known international pharmaceutical company, which submitted ASPARAPID, a fast-acting insulin analog, for regulatory approval to the Drugs Controller General of India (DCGI) in India. In India, where the condition is becoming more and more common, this revelation represents a significant step toward providing patients with diabetes with more treatment alternatives.
Wockhardt’s shares are currently trading at ₹1,100, up ₹19.40, or 1.80%, from when they were last traded at 12:19 PM on the National Stock Exchange (NSE). Once approved, the projected insulin aspart injectable will be supplied in a variety of formats to accommodate the needs of patients, such as vials, cartridges, and prefilled disposable pens. There are now just two significant companies working in this section of the ₹260 crore (about $31.2 million) Indian aspart insulin industry. There is a great chance for Wockhardt to dominate the market because of the lack of competitors.
Over 77 million people in India are affected by the growing diabetes issue, which highlights the necessity of this development. It is anticipated that this figure will increase, with 537 million cases of diabetes worldwide estimated to increase to 643 million by 2030. Patients in need of fast-acting, efficient insulin alternatives may find relief with ASPARAPID’s launch.
Wockhardt’s founder and chairman, Dr. Habil Khorakiwala, emphasized the company’s dedication to expanding diabetes care accessibility by utilizing regional manufacturing resources. The company’s past involvement in the treatment of diabetes is consistent with this; Wockhardt was the first Asian firm to introduce Recombinant Human Insulin, opening the door for future advancements in diabetes therapy.
In addition to running drug product facilities in India and the UK, Wockhardt has four biopharmaceutical facilities in India. About 2,600 people from 27 different countries work for the organization, demonstrating its diversified workforce and global reach. Interestingly, 78% of Wockhardt’s revenue comes from outside markets, demonstrating the company’s robust international presence.
In conclusion, Wockhardt’s application for regulatory clearance of ASPARAPID signifies a significant development in the treatment of diabetes in India. This project, which has the potential to address a rising patient population and a sizable market opportunity, demonstrates the company’s continuous commitment to innovation in the pharmaceutical industry and its focus to improving healthcare solutions.
SOURCE :
THE HINDU BUSINESS LINE