Shares of Eris Lifesciences, Lupin, and Biocon were in focus on April 23 after pharmaceutical major Novo Nordisk announced the discontinuation of its Human Mixtard insulin brand in India — one of the country’s best-selling diabetes treatments. Analysts believe this move opens a large revenue opportunity for local players, estimated to be around Rs 400 crore in the near term.
Novo Nordisk has reportedly decided to phase out Human Mixtard, along with other legacy insulin brands such as Actrapid, Insulatard, Insulin Detemir, Levemir, and Xultophy, citing a shift in global strategy to focus on newer and more profitable diabetes therapies like Ozempic and Wegovy.
With Human Mixtard alone being an ₹800 crore brand under price control, analysts see this as a significant opportunity for Indian pharmaceutical companies already present in the insulin therapy market. Biocon Biologics, in a post by Chairperson Kiran Mazumdar-Shaw, confirmed it will ensure Insugen fills the gap left by Novo Nordisk, citing it as a “national responsibility.”
Meanwhile, shares of Eris Lifesciences surged over 4% to ₹1,458, becoming one of the top gainers today. Lupin and Biocon also gained on improved market sentiment, as investors anticipate market share gains for these companies following the exit of Novo Nordisk from key insulin formulations.
According to brokerage insights, with only Biocon, Lupin and Eris Life having capacity and product presence in this segment, the reshuffling of market dynamics could lead to strong top-line additions for these players in the coming quarters.
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