Glenmark launches type 2 diabetes and high insulin resistance drug in India; shares jump

Pharma giant Glenmark Pharmaceuticals Ltd. has launched a new drug for Type-2 diabetes treatment. Introduced under the brand Zita-PioMet, it is the first triple fixed-dose combination (FDC) – Teneligliptin with Pioglitazone and Metformin – in India.

Teneligliptin is a widely used DPP4 inhibitor (Dipeptidyl Peptidase 4 inhibitor). The FDC contains Teneligliptin (20 mg), Pioglitazone (15 mg), and Metformin (500 mg/1000 mg) in a sustained release (SR) formulation. This offers patients with Type-2 diabetes the convenience of a once-daily dose to improve their glycemic control and achieve the targeted HbA1c within 24 weeks.

Following the launch, shares of Glenmark Pharmaceuticals Ltd. rose 6.08 percent to trade at Rs 434.10.

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According to IQVIA sales data, the market for oral anti-diabetic drugs in India is estimated to be Rs 11,877 crore with an annual growth of 6.3 percent against the corresponding period last year (as on November 2021).

As per the International Diabetes Federation (IDF), the prevalence of diabetes in India is expected to increase to 125 million by 2045, 77 percent of which would have uncontrolled diabetes.

Shares of Glenmark Pharmaceuticals are trading 7 percent higher at Rs 437.80.

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