There's a new diabetes drug in the market which apparently cuts cost by 80%. We kid you not. This comes as good news for millions of diabetics tackling the debilitating disease.
By lowering the cost of therapy for patients by 80%, the new drug in the 'gliptin' family has disrupted the anti-diabetes market. With 15 companies offering offering the drugs, cost for a day's treatment is down from Rs 45 to an average daily price of Rs 9. This miracle drug could make life easier for the people tackling with the disease which gradually attacks and weakens all body organs.
The cost of gliptin treatment amounted to Rs 16,200 per year (at Rs 1,350 per month). With the entry of the new molecule and subsequently aggressive pricing by domestic companies over the past six months, the cost of therapy has dropped to approximately Rs 3,285 a year (at Rs 270 a month), translating into national savings of roughly Rs 1,300 crore for patients. The new entrant teneligliptin is also the fastest selling in the Rs 1,430 crore gliptin family which occupies 20% of the total anti-diabetic market.
Diabetics in the country have something to cheer about. A new drug in the 'gliptin' family has disrupted the anti-diabetes market by lowering the cost of therapy for patients by 80%, making it easier for millions of diabetics to tackle the debilitating disease which gradually attacks and weakens all body organs.
With the launch of teneligliptin molecule, the popular gliptin category has witnessed a price erosion of over 80% in the last six months, bringing down the cost from 45 for a day's treatment to an average of 9, with over 15 companies now offering it.
Most gliptins are priced around 45 for a day's therapy, taking the cost of treatment for patients to nearly 16,500 a year ( 1,350 a month).
The entry of the new molecule and subsequent aggressive pricing has led to the cost of therapy coming down to approximately 3,285 a year (or 270 a month), translating into savings of roughly 1,300 crore for patients.
The new entrant teneligliptin is also the fastest selling in the 1,430 crore gliptin family, which occupies 20% of the anti-diabetic market.
Teneligliptin, a third-generation new oral anti-diabetic drug manufactured by Mumbai-based Glenmark, received regulatory approval and was priced aggressively at nearly 20 for a day's therapy when it was first launched in June last year.
The launch of Zita Plus and Ziten (teneligliptin brands) by Glenmark paved the way for the entry of a host of other players to launch the molecule in the oral diabetic market, which is valued around 6,000 crore.
As per AIOCD data (December 2015), there are 16 teneligliptin brands in the market, with total sale of 36 crore.
The economic burden of diabetes is high in India as most patients pay out-of-pocket, and due to lack of medical reimbursement.
Worse, the cost of treatment also includes consultation, investigations, drugs, monitoring, complications, while the complications related to the disease may increase it substantially.
Dr Anoop Misra, chairman Fortis-C-DOC Hospital for Diabetes says, "Low cost medications are surely needed in India, however, all of us look at safety data before prescribing any medication. For teneligliptin, safety data is not long term, and confined to patients from far eastern countries, hence confidence to prescribe this medication viz-a-viz other gliptins is lower."
With the entry of the new molecule, the cost of therapy has dropped to approximatelyRs 3,285 a year (at Rs 270 a month), translating into national savings of roughly Rs 1,300 crore for patients.
