Ranbaxy strikes deal with Scigen
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Ranbaxy strikes deal with Scigen

By siliconindia staff writer   |   Thursday, 19 August 2004, 07:00 Hrs
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NEW DELHI: Ranbaxy is set to make a big-bang entry into the fast-growing domestic insulin market with an imported product.

The pharma major has struck a deal with Singapore-based Scigen for marketing its insulin product in India.

While details of the Ranbaxy-Scigen deal are kept under wraps, sources said Ranbaxy is planning to position the product differently to make an early impact in the market, currently dominated by two multinationals — Novo Nordisk and Eli Lilly.

Ranbaxy’s move to enter the insulin market is in line with the company’s strategy to reinforce its presence in high-growth therapeutic categories. The insulin market is currently growing at a healthy 25%. The company would gradually be reducing its reliance on segments like anti-infectives, which has seen major de-growth.

According to an IMS world-wide survey, more than 135m diabetes cases exist in the world today, and this is expected to rise to 300m by 2025. The anti-diabetes market is expected to cross $20bn by ’06.

Currently, there are only a few players — Novo Nordisk, Eli Lilly, USV, Aventis and Wockhardt — in the Rs 300 crore domestic insulin market. Novo and Lilly command about 80-85% of the market. The last round of price cut on human insulin, the steepest ever, was initiated by Lilly in January ’02.

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