Drug makers Wockhardt, Shanta Biocon and Bharat Biotech are gearing up to unveil their human insulin products next fiscal.
The companies are in different stages of clinical trials and the products are likely to hit the domestic market in the second quarter of next year. The three firms have also lined up major investments to enter the human insulin market.
Globally, Eli Lilly has a 48 per cent share of the worldwide market in volume terms, while Novo Nordisk holds 44 per cent. Hoechst, which has merged with Rhone-Poulenc to form Aventis, is the third player with a 5.5 per cent share.
The total anti-diabetic market in India is estimated at Rs 624 crore out of which insulin contributes about 31 per cent (about Rs 195 crore), growing at 24 per cent a year.
At present, no Indian manufacturers are in the insulin segment and import is the only option available to Indian consumers.
According to Varaprasad Reddy, managing director of the Hyderabad-based Shanta Biotech, the pre-clinical studies have been completed.
