Wockhardt Limited Takes a Bold Step in Diabetes Care

Wockhardt Limited, a notable player in the global pharmaceutical arena, has just made a significant move in the fight against diabetes by submitting its innovative fast-acting insulin analog, ASPARAPID, for regulatory approval to India’s Drugs Controller General of India (DCGI). This exciting announcement came out today, marking a noteworthy milestone for the company.

Market Response and Product Availability

As news broke, shares of Wockhardt Limited saw a positive jump, trading at ₹1,100 — an increase of ₹19.40 or 1.80% on the NSE around 12:19 PM today.

If approved, this insulin aspart injection will be accessible in various formats such as cartridges, vials, and prefilled disposable pens. Currently, the market for aspart insulin in India is estimated at over ₹260 crore (around $31.2 million), with only two existing players in the field!

• Also read: Discount-hunting for medicines may be injurious to health, says drug manufacturers’ body chief

The Growing Diabetes Crisis in India

This development comes at a crucial time as India grapples with a rising diabetes crisis, with over 77 million individuals affected. On a global scale, diabetes cases are projected to soar to 643 million by 2030, up from the current tally of 537 million.

Commitment to Advancing Diabetes Care

Dr. Habil Khorakiwala, Founder Chairman of Wockhardt, underscored the company’s dedication to enhancing access to diabetes care through local manufacturing capabilities. Notably, Wockhardt was the first Asian manufacturer to launch Recombinant Human Insulin after its innovator.

Wockhardt operates four biopharmaceutical facilities within India, in addition to drug product facilities both in India and the UK. With a diverse workforce of about 2,600 individuals from 27 nationalities, the company currently derives 78% of its revenue from international markets.

• Also read: Regulatory, policy reforms crucial for future of India’s pharma R&D: Report