Financial Daily from THE HINDU group of publications
Tuesday, Nov 11, 2003
Financial Daily from THE HINDU group of publications Tuesday, Nov 11, 2003 |
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Corporate
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Announcements Marketing - New Products & Services Industry & Economy - Health Novo Nordisk launches 2 new insulin analogues Our Bureau
New Delhi , Nov. 10 NOVO Nordisk India (NNI), the wholly-owned subsidiary of Danish diabetes care company, on Monday launched two insulin analogues — NovoMix 30 and NovoRapid. Insulin analogues are advanced insulin therapies comprising genetically engineered human insulin molecules "that enable safer and simpler insulin regimens." Priced at Rs 525 with 300 units, NovoMix 30 is a premixed analogue while NovoRapid is rapid acting analogue, made applicable to the patient through an insulin delivery device called the flex pen. Both products were launched in the US market about 18 months ago. The NNI Managing Director, Mr Sanjeev Shishoo, told mediapersons here today that the Rs 170-crore company expected a substantial growth in the next three to four years, by which time, the products would be established. Further, he said that more insulin products were slated for launch in India in the forthcoming year. Outlining the advantages of the new products, he said that it would reduce the complication associated with diabetes. "People do not prefer the use of insulin as they fear hypoglycaemia (low blood sugar), find compliance to therapy difficult and fear the injection. But unlike conventional insulin, the new products can be injected before or after the meal, making compliance easy. Traditional insulin needs to be taken 30 minutes before meals." While he claimed that there were no direct competitors to Novo Nordisk's new products, he added that other players in the segment include Eli Lilly and Aventis. NNI has 22 per cent share in diabetes care, besides cornering a lion's share of 70 per cent in the insulin category. The Danish parent is also present in haemostasis management and harmone growth and replacement therapy, he said. And while most research in this segment is done out of Denmark, the local subsidiary has an existing research alliance in the diabetes segment with Dr Reddy's Laboratories. NNI also has a co-marketing agreement for its products in India, through Abbott, he said.
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