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Indiamart working with Novo Nordisk to halt illegal Wegovy sales

Economic Times

Economic Times · 1y ago

Indiamart working with Novo Nordisk to halt illegal Wegovy sales

Indian online marketplace Indiamart is collaborating with Novo Nordisk, the maker of weight-loss drug Wegovy, to remove unauthorized listings of counterfeit versions of the drug. Novo Nordisk's India legal team held discussions with Indiamart's executives to establish a mechanism for detecting and reporting illegal sales. The demand for Novo's weight-loss drugs has led to a global surge in counterfeit products. Indiamart has faced criticism and was included in the US government's 'Notorious Markets' list for 2022 for its struggle to combat counterfeit goods. Novo intends to officially launch Wegovy in India in 2026 after obtaining regulatory approvals.

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Manipal Hospitals backer Novo Holdings to invest $35 bn over next six years

VCCircle

VCCircle · 1y ago

Manipal Hospitals backer Novo Holdings to invest $35 bn over next six years

Novo Holdings, the controlling shareholder of Novo Nordisk, plans to invest $35 billion by 2030. The company will invest around $5 billion per year in the next five years, with a potential increase to $7 billion per year by 2030. Novo Holdings has a significant stake in Novo Nordisk, which produces obesity drug Wegovy and diabetes treatment Ozempic. The investment arm is also involved in industrial enzymes maker Novonesis and manages a portfolio of 160 companies. Novo Holdings recently invested in Indian private hospital chain Manipal Hospitals and is focusing on Asia for future investments.

Manipal Hospitals backer Novo Holdings ropes in former IFU exec

VCCircle

VCCircle · 1y ago

Manipal Hospitals backer Novo Holdings ropes in former IFU exec

Novo Holdings, the Danish investor that backs Manipal Hospitals, has hired a former executive from the Investment Fund for Developing Countries (IFU). Novo Holdings, which also owns a majority stake in obesity drugmaker Novo Nordisk, manages assets on behalf of the Novo Nordisk Foundation. The move comes as Novo Holdings continues to expand its portfolio in the healthcare industry, with investments in both hospital chains and healthtech companies.

Eli Lilly and Novo Nordisk’s obesity moat just got stronger

Livemint

Livemint · 9m ago

Eli Lilly and Novo Nordisk’s obesity moat just got stronger

Amgen is positioning itself as a competitor in the obesity drug market, with its candidate drug MariTide reportedly helping patients lose around 20% of their body weight. While this adds competition to the market currently dominated by Eli Lilly and Novo Nordisk, Amgen's drug failed to outperform Lilly's Zepbound. Furthermore, Lilly and Novo Nordisk have next-generation medications in development that show even more promising weight loss results. Despite the competition, the current market leaders are expected to maintain their dominance in the obesity drug market. However, Amgen's longer-acting drug could still capture a significant portion of the projected $100 billion annual sales.

Manipal Hospitals backer Novo Holdings to expand in India, open Mumbai office

VCCircle

VCCircle · 1y ago

Manipal Hospitals backer Novo Holdings to expand in India, open Mumbai office

Novo Holdings, the controlling shareholder of Novo Nordisk, is planning to open an office in India this year to tap into the country's growing healthcare market and innovation. The firm manages a portfolio of 170 companies and has seen a surge in revenue from Novo Nordisk. Novo Holdings has already invested in Indian private hospital chain Manipal Hospitals and plans to invest between $300 million and $500 million in Asia each year in the coming five years. The company sees huge potential in Asian markets, driven by large populations, growing middle classes, and government focus on healthcare provision.

Manipal Hospitals backer Novo Holdings names former KKR exec as India head

VCCircle

VCCircle · 7m ago

Manipal Hospitals backer Novo Holdings names former KKR exec as India head

Novo Holdings, a Danish investment firm and investor in Manipal Hospitals and Qure.ai Technologies in India, has appointed Karthik Narayanaswamy as its new India head. This move aims to enhance the firm's activities in the South Asian market. Novo Holdings is known for its healthcare investments and owns a majority stake in the weight-loss drugmaker, Novo Nordisk.

Novo Nordisk owner to invest $200 million in quantum computing startups

Economic Times

Economic Times · 1y ago

Novo Nordisk owner to invest $200 million in quantum computing startups

Novo Holdings, the majority shareholder of Novo Nordisk, is planning to invest $200 million in quantum computing startups. Novo Holdings aims to support the development of an ecosystem of quantum computing companies, with a focus on life sciences startups in Nordic countries. Quantum computing has the potential to revolutionize various sectors, including pharmaceuticals and drug discovery, by significantly speeding up scientific calculations. Novo Holdings believes that quantum technology can be transformative and aims to create and grow strong quantum technology companies in the Nordics.

Eris Lifesciences builds on insulin strength to enter obesity drug race

Livemint

Livemint · 23d ago

Eris Lifesciences builds on insulin strength to enter obesity drug race

Eris Lifesciences is leveraging its successful insulin business to expand into India's burgeoning diabetes and obesity drug market. The Ahmedabad-based company, currently holding a 10% share in the human insulin market, aims to fill the gap left by innovator Novo Nordisk and significantly increase its presence in the anti-obesity sector. CEO Krishnakumar Vaidyanathan emphasizes that strong insulin sales are often linked with successful GLP-1 product performance, underpinning their strategic approach.

Wegovy maker Novo Nordisk bets big on talent, AI partnerships in India

VCCircle

VCCircle · 10m ago

Wegovy maker Novo Nordisk bets big on talent, AI partnerships in India

- Novo Nordisk is expanding its operations in India by increasing senior leadership and partnering with local AI start-ups. - The Danish drugmaker aims to double the number of global process leaders in India and increase its overall headcount by 16% next year. - Novo Nordisk has collaborations with 10 Indian AI start-ups for tasks such as document summarization, insight extraction, and editing error checks. - The company is utilizing AI tools to reduce the time required for quality checks on documents, reducing it from 40 hours to about 40 minutes per document. - Novo Nordisk's India centre aims to replicate the company's Denmark headquarters in terms of handling research and development data within three years. - Other major pharmaceutical companies, including Sanofi and Bristol Myers Squibb, are also investing in India's pharmaceutical sector and leveraging AI and digital technologies.

Lilly, Novo are kings of weight-loss drugs. The firms coming for their crowns.

Livemint

Livemint · 1m ago

Lilly, Novo are kings of weight-loss drugs. The firms coming for their crowns.

Eli Lilly and Novo Nordisk currently dominate the weight-loss drug market, with both companies being the only ones in the U.S. offering approved products. However, several well-established and emerging pharma companies are aggressively investing to compete in this rapidly expanding sector. As interest in weight-loss treatments grows, these competitors are positioning themselves to challenge Lilly and Novo's leadership in the market.

Novo Nordisk wants to boost India GCC capacity, but no plans for production unit

Livemint

Livemint · 1y ago

Novo Nordisk wants to boost India GCC capacity, but no plans for production unit

Danish drug manufacturer Novo Nordisk plans to expand its collaborations with existing partners in India to increase its operations in the country. The company, known for its diabetes and weight-loss drugs, has been facing a shortage of supply globally. In order to meet the demand, Novo will expand its manufacturing capacities at existing production sites rather than setting up a new hub. Novo also plans to add 1,300 new job roles to its Indian centre by 2026, with 700 hires expected this year. India's Global Capability Centres (GCCs) have become a preferred route for multinational corporations (MNCs) to establish their operations due to cost advantages and supportive government policies. India currently has over 1,600 GCCs, with the number expected to reach 2,100 by 2028. GCCs are predicted to contribute approximately 3.5% to India's GDP by 2030.

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