GlaxoSmithKline Pharmaceuticals Ltd is targeting India’s Rs.1,200 crore cancer treatment market by introducing at least one cancer medicine a year in the next four to five years.
The local unit of the UK’s biggest drug maker will source these medicines from its global parent’s cancer drug research projects and through licensing arrangements with other companies. “We had followed the same strategy to be big in cardiology, diabeteology and skincare areas a few years ago, and it’s already one of the key providers of these therapies in the local market,” said Hasit Joshipura, managing director of the Indian unit.
The company added two new drugs to its cancer portfolio on Friday, taking the total number of such drugs to three.
The new drugs are Revolade, a tablet for the treatment of disorders related to reduced blood platelet count, and the kidney cancer drug Votrient. They will cost Rs.27,000 and Rs.58,000, respectively, for a month’s treatment in India, which according to the company are 70% lower than the US prices. Glaxo started selling its first cancer medicine Tykerb, for the treatment of breast cancer, in India in 2009.
Joshipura said the company was late to enter this growing segment as its parent’s research pipeline did not adequately support it. Now, it has several promising cancer drugs in the research pipeline and has also signed a a few product licensing deals with other companies to feed the cancer portfolio globally.
“We are hopeful of launching at least one new drug in this market every year, and as a global policy, GSK will follow a tier-pricing strategy for these drugs in the developing countries,” he said.
“We have a team about 25 people in the oncology division, which was expanded this year, to cover about 1,200 doctors at present, and this size will keep growing in the coming years according to the new launches,” said C.T. Renganathan, vice-president of pharmaceuticals at Glaxo’s Indian unit. India’s cancer therapy market is lucrative because of unmet needs and increased awareness, according to a business intelligence report by Espicom in June. Almost all top drug makers, including local and multinationals, are focusing on this market, it said.
While many cancer drugs sold by foreign companies are expensive for most patients in India, where medical insurance and reimbursements are still not widely spread, local rivals have taken the edge by selling cheaper generic copies of these drugs. Pricing is a critical issue for many of the foreign companies, who continue to import these drugs from their parent’s facilities abroad.
Pfizer Inc., L. Hoffmann La Roche Ltd, Novartis AG, AstraZeneca Ltd, Sanofi SA are the some of other foreign drug makers active in the Indian cancer market. Companies such as Roche, Pfizer and Novartis has introduced patient access programmes with fully or partially subsidized drug supply considering financial status of the patients, to tackle this pricing issue.
Glaxo has followed a country-specific pricing model, which is decided on the basis of the economic parameters of the country such as gross domestic product and per capita income, said Joshipura.
The local unit of the UK’s biggest drug maker will source these medicines from its global parent’s cancer drug research projects and through licensing arrangements with other companies. “We had followed the same strategy to be big in cardiology, diabeteology and skincare areas a few years ago, and it’s already one of the key providers of these therapies in the local market,” said Hasit Joshipura, managing director of the Indian unit.
The company added two new drugs to its cancer portfolio on Friday, taking the total number of such drugs to three.
The new drugs are Revolade, a tablet for the treatment of disorders related to reduced blood platelet count, and the kidney cancer drug Votrient. They will cost Rs.27,000 and Rs.58,000, respectively, for a month’s treatment in India, which according to the company are 70% lower than the US prices. Glaxo started selling its first cancer medicine Tykerb, for the treatment of breast cancer, in India in 2009.
Joshipura said the company was late to enter this growing segment as its parent’s research pipeline did not adequately support it. Now, it has several promising cancer drugs in the research pipeline and has also signed a a few product licensing deals with other companies to feed the cancer portfolio globally.
“We are hopeful of launching at least one new drug in this market every year, and as a global policy, GSK will follow a tier-pricing strategy for these drugs in the developing countries,” he said.
“We have a team about 25 people in the oncology division, which was expanded this year, to cover about 1,200 doctors at present, and this size will keep growing in the coming years according to the new launches,” said C.T. Renganathan, vice-president of pharmaceuticals at Glaxo’s Indian unit. India’s cancer therapy market is lucrative because of unmet needs and increased awareness, according to a business intelligence report by Espicom in June. Almost all top drug makers, including local and multinationals, are focusing on this market, it said.
While many cancer drugs sold by foreign companies are expensive for most patients in India, where medical insurance and reimbursements are still not widely spread, local rivals have taken the edge by selling cheaper generic copies of these drugs. Pricing is a critical issue for many of the foreign companies, who continue to import these drugs from their parent’s facilities abroad.
Pfizer Inc., L. Hoffmann La Roche Ltd, Novartis AG, AstraZeneca Ltd, Sanofi SA are the some of other foreign drug makers active in the Indian cancer market. Companies such as Roche, Pfizer and Novartis has introduced patient access programmes with fully or partially subsidized drug supply considering financial status of the patients, to tackle this pricing issue.
Glaxo has followed a country-specific pricing model, which is decided on the basis of the economic parameters of the country such as gross domestic product and per capita income, said Joshipura.
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