May manufacture insulin in the country for the sub-continent. Denmark-based Novo Nordisk, a world leader in diabetes care, is looking at India as a hub for manufacturing insulin for the entire sub-continent. The company today inaugurated a dedicated facility with a capacity of 26 million vials per annum in partnership with Ahmedabad-based Torrent Pharmaceuticals Ltd.
The Rs 1,600-crore Torrent Pharma is the flagship company of the Rs 6,400-crore Torrent Group and has been manufacturing insulin for Novo Nordisk since the early nineties.
Novo Nordisk's Senior Vice-President (International Operations) Jesper Hoiland said that the company already had a manufacturing facility in China and was also looking for opportunities in countries like Bangladesh. When asked whether India could be developed as a hub for manufacturing insulin for neighbouring countries in the sub-continent, Hoiland said: "That is indeed a possibility. We are looking into it."
With over 50 million cases, India is one of the world's biggest markets for diabetes, and the numbers are expected to reach 80 million by 2025. While the adult prevalence rate in the country is at around 6.2 per cent, only a small percentage is actually treated.
Novo Nordisk enjoys a 70 per cent market share in the country, reaching out to almost 1.2 million people of the total two million patients who are currently getting treated with insulin. "India's share in Novo Nordisk's global turnover is negligible — around 1-1.5 per cent. But it is steadily growing at a rate of 20-30 per cent," Hoiland said. Novo Nordisk enjoys a 50 per cent share in the world insulin market.
Hoiland added, with the growing market in the country, India is fast becoming a strategic market for the company. Novo Nordisk has brought in 150 people from its Denmark operations and is currently holding 8-10 per cent of its clinical trials in India on over 10,000 people. Torrent Pharmaceuticals Chief Operating Officer Sanjay Dalal said his company had invested around $11 million on the dedicated insulin manufacturing facility for Novo Nordisk and this could be expanded. The Kadi facility could also be used to export insulin from India later on.