Latest news with #EliLilly
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Business Standard
18 minutes ago
- Health
- Business Standard
India's response to obesity drug Mounjaro 'positive', says Eli Lilly
Eli Lilly said the response for its blockbuster drug Mounjaro has been "positive" in India, adding that it is focusing on meeting demand for the drug in the world's most populous country. The US-based Lilly beat rival Novo Nordisk in March this year to introduce its diabetes and weight-loss drug in India, which is grappling with an increasing disease burden among its population of 1.4 billion. Mounjaro has sold more than 81,570 units in India, totalling about ₹23.94 crore ($2.76 million) as of May, with the drug logging a 60 per cent rise in overall sales between April and May, according to data from research firm PharmaTrac. With its mass-market pricing, Mounjaro could become a mainstay in obesity and diabetes management in India, PharmaTrac said. The global demand for Lilly's Mounjaro and Novo's version Wegovy has skyrocketed in the last few years, even leading to shortages in a few countries, including the US. "Since 2020, Lilly has invested over $50 billion to increase production capacity (for global supply). We remain fully committed to meeting the demand for our medicines across the country," the company said on Thursday. Obesity and diabetes rates have been steadily climbing in India. A government survey conducted between 2019 and 2021 showed 24 per cent of women and nearly 23 per cent of men aged 15 to 49 were overweight or obese, up from 20.6 per cent and 19 per cent, respectively, in 2015-2016. In addition, the number of adults with diabetes is projected to increase to more than 124 million by 2045 from 74.2 million in 2021, according to the International Diabetes Federation. Indian drugmakers are now racing to develop cheaper versions of the weight-loss drugs to grab a share of the market estimated to be around $150 billion by the early 2030s. Semaglutide, the active ingredient in Wegovy, is likely to go off-patent in 2026 in India. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
New York Times
2 hours ago
- Business
- New York Times
This Loophole Buried in Trump's Bill Is Anything but Beautiful
It is hard to think of a less coherent pair of policies: President Trump's tax policy encourages the very offshoring that his tariffs are intended to stop. Take the more than $600 billion pharmaceutical industry. Over the past few months, Mr. Trump and his associates have repeatedly criticized companies' moves to offshore much drug making, particularly to Ireland. 'We can't be beholden and rely upon foreign countries for fundamental things that we need,' Commerce Secretary Howard Lutnick said on April 13. But the tax incentives in Mr. Trump's 2017 tax and spending package helped generate this problem in the first place — a problem that would continue under the Republican bill under consideration. Mr. Trump's Tax Cuts and Jobs Act created a loophole that made it far more profitable for the pharmaceutical giants, including Eli Lilly, Pfizer, Johnson and Johnson and Merck, to manufacture some of their most profitable drugs in Ireland. Unsurprisingly, that is what happened, with America's imports of pharmaceuticals soaring to $250 billion in 2024, way up from $110 billion back in 2016. American firms now report earning about $350 billion in profits annually in the world's major centers of corporate tax avoidance, which include Ireland, Luxembourg, Singapore and a handful of others. And while the major drug companies have mastered the art of taking advantage of the loopholes created by the 2017 law, semiconductor equipment producers and other Big Tech companies use the same special tax break. Fortunately, it isn't too late to make sensible changes that would raise revenue and get rid of this strange incentive. Republicans tend to blame Ireland's lower corporate tax rate for the proliferation of corporate tax avoidance, but the real incentive comes from this obscure corner of our tax code. It offers a far-lower 10.5 percent tax rate for global profits if a global firm moves the profits from its intellectual property offshore. The tax rate for domestic profits, in contrast, is 21 percent. The tax break was created by Republicans who were searching for a compromise that would stop companies from moving their headquarters overseas without fully ending tax competition and the associated pressure on U.S. corporate tax rates. Want all of The Times? Subscribe.
Yahoo
2 hours ago
- Health
- Yahoo
Eli Lilly says India response to obesity drug Mounjaro is 'positive', will focus on meeting demand
By Rishika Sadam (Reuters) -Eli Lilly said the response for its blockbuster drug Mounjaro has been "positive" in India, adding that it is focusing on meeting demand for the drug in the world's most populous country. The U.S.-based Lilly beat rival Novo Nordisk in March this year to introduce its diabetes and weight-loss drug in India, which is grappling with an increasing disease burden among its population of 1.4 billion. Mounjaro has sold more than 81,570 units in India, totalling about 239.4 million rupees ($2.76 million) as of May, with the drug logging a 60% rise in overall sales between April and May, according to data from research firm PharmaTrac. With its mass-market pricing, Mounjaro could become a mainstay in obesity and diabetes management in India, PharmaTrac said. The global demand for Lilly's Mounjaro and Novo's version Wegovy has skyrocketed in the last few years, even leading to shortages in a few countries, including the U.S. "Since 2020, Lilly has invested over $50 billion to increase production capacity (for global supply). We remain fully committed to meeting the demand for our medicines across the country," the company said on Thursday. Obesity and diabetes rates have been steadily climbing in India. A government survey conducted between 2019 and 2021 showed 24% of women and nearly 23% of men aged 15 to 49 were overweight or obese, up from 20.6% and 19%, respectively, in 2015-2016. In addition, the number of adults with diabetes is projected to increase to more than 124 million by 2045 from 74.2 million in 2021, according to the International Diabetes Federation. Indian drugmakers are now racing to develop cheaper versions of the weight-loss drugs to grab a share of the market estimated to be around $150 billion by the early 2030s. Semaglutide, the active ingredient in Wegovy, is likely to go off-patent in 2026 in India. ($1 = 86.6125 Indian rupees) Sign in to access your portfolio
Yahoo
2 hours ago
- Health
- Yahoo
Eli Lilly says India response to obesity drug Mounjaro is 'positive', will focus on meeting demand
By Rishika Sadam (Reuters) -Eli Lilly said the response for its blockbuster drug Mounjaro has been "positive" in India, adding that it is focusing on meeting demand for the drug in the world's most populous country. The U.S.-based Lilly beat rival Novo Nordisk in March this year to introduce its diabetes and weight-loss drug in India, which is grappling with an increasing disease burden among its population of 1.4 billion. Mounjaro has sold more than 81,570 units in India, totalling about 239.4 million rupees ($2.76 million) as of May, with the drug logging a 60% rise in overall sales between April and May, according to data from research firm PharmaTrac. With its mass-market pricing, Mounjaro could become a mainstay in obesity and diabetes management in India, PharmaTrac said. The global demand for Lilly's Mounjaro and Novo's version Wegovy has skyrocketed in the last few years, even leading to shortages in a few countries, including the U.S. "Since 2020, Lilly has invested over $50 billion to increase production capacity (for global supply). We remain fully committed to meeting the demand for our medicines across the country," the company said on Thursday. Obesity and diabetes rates have been steadily climbing in India. A government survey conducted between 2019 and 2021 showed 24% of women and nearly 23% of men aged 15 to 49 were overweight or obese, up from 20.6% and 19%, respectively, in 2015-2016. In addition, the number of adults with diabetes is projected to increase to more than 124 million by 2045 from 74.2 million in 2021, according to the International Diabetes Federation. Indian drugmakers are now racing to develop cheaper versions of the weight-loss drugs to grab a share of the market estimated to be around $150 billion by the early 2030s. Semaglutide, the active ingredient in Wegovy, is likely to go off-patent in 2026 in India. ($1 = 86.6125 Indian rupees) Sign in to access your portfolio
Reuters
2 hours ago
- Health
- Reuters
Eli Lilly says India response to obesity drug Mounjaro is 'positive', will focus on meeting demand
June 20 (Reuters) - Eli Lilly (LLY.N), opens new tab said the response for its blockbuster drug Mounjaro has been "positive" in India, adding that it is focusing on meeting demand for the drug in the world's most populous country. The U.S.-based Lilly beat rival Novo Nordisk ( opens new tab in March this year to introduce its diabetes and weight-loss drug in India, which is grappling with an increasing disease burden among its population of 1.4 billion. Mounjaro has sold more than 81,570 units in India, totalling about 239.4 million rupees ($2.76 million) as of May, with the drug logging a 60% rise in overall sales between April and May, according to data from research firm PharmaTrac. With its mass-market pricing, Mounjaro could become a mainstay in obesity and diabetes management in India, PharmaTrac said. The global demand for Lilly's Mounjaro and Novo's version Wegovy has skyrocketed in the last few years, even leading to shortages in a few countries, including the U.S. "Since 2020, Lilly has invested over $50 billion to increase production capacity (for global supply). We remain fully committed to meeting the demand for our medicines across the country," the company said on Thursday. Obesity and diabetes rates have been steadily climbing in India. A government survey conducted between 2019 and 2021 showed 24% of women and nearly 23% of men aged 15 to 49 were overweight or obese, up from 20.6% and 19%, respectively, in 2015-2016. In addition, the number of adults with diabetes is projected to increase to more than 124 million by 2045 from 74.2 million in 2021, according to the International Diabetes Federation. Indian drugmakers are now racing to develop cheaper versions of the weight-loss drugs to grab a share of the market estimated to be around $150 billion by the early 2030s. Semaglutide, the active ingredient in Wegovy, is likely to go off-patent in 2026 in India. ($1 = 86.6125 Indian rupees)
