Eli Lilly plans to produce weight-loss drug Mounjaro in India
What's the story
American pharmaceutical giant Eli Lilly is considering manufacturing its weight-loss drug Mounjaro in India.
CEO David Ricks disclosed the potential move during his visit to the country.
The announcement comes just days after Eli Lilly received approval from India's Central Drugs Standard Control Organization (CDSCO) for Mounjaro (tirzepatide), a weekly injection for obesity and Type 2 diabetes treatment.
Market expansion
Ricks emphasizes potential of Indian market
Speaking to CNBC-TV18, Ricks was optimistic about India emerging as a key market for Mounjaro.
He said, "There is a lot of discussion in the air about localizing or regionalizing supply chains. India is still a smaller market for us but with Mounjaro, it can become an important market for us."
This highlights Eli Lilly's intent to expand its footprint in the Indian pharma space.
Past success
Eli Lilly's successful insulin production in India
Ricks emphasized the company's successful experience of manufacturing insulin in India.
He said, "We need to talk to those partners. We need to understand what the demand is in the market and we need to get comfortable with the regulatory environment."
This past success could open the doors for future production of Mounjaro, further strengthening Eli Lilly's presence in India's healthcare landscape.
Collaboration
Eli Lilly open to partnerships in India
Ricks confirmed Eli Lilly is open to collaborations in India before setting up its manufacturing facility.
He stressed on the need to act collectively against obesity and diabetes, saying, "Obesity is an enormous public health crisis, so is diabetes. No one company can do that alone."
This is in line with Eli Lilly's strategy of partnering with locals to understand market demand and regulatory challenges.
Health opportunity
Mounjaro's potential in India's diabetes landscape
Ricks also emphasized the huge opportunity Mounjaro presents in India considering the high prevalence of diabetes.
He said, "The prevalence of diabetes is very high in this country. And it is a very serious condition. Mounjaro is a very big opportunity, given that a significant number of people have diabetes in India."
India, known as diabetes capital of the world, has close to 80 million people with diabetes and the number may surge to 135 million by 2045, per Medanta.
Expansion
Eli Lilly is hiring for its tech hub in Hyderabad
Eli Lilly is strengthening its presence in India with a new technology center in Hyderabad. Ricks confirmed that hiring has already begun for the upcoming Lilly Capability Center India (LCCI) in the city.
In January, the company announced plans to recruit 1,000-1,500 professionals, including technology engineers and data scientists.
Expected to be operational by mid-2025, the Hyderabad hub will be Lilly's second capability center in India, following the Bengaluru hub launched in 2016.