Dapnat to boost Natco in India's diabetes market but concerted efforts required, says analyst

India-based Natco Pharma (BSE: 524816) has recently launched a generic version of AstraZeneca’s (LSE: AZN) patented anti-diabetes drug Forxiga (dapagliflozin). Natco’s sodium glucose co-transporter-2 (SGLT2) inhibitor, Dapnat, is indicated for the treatment of type 2 diabetes (T2D), and is expected to boost the company’s overall presence within the Indian diabetes market, says GlobalData, a leading data and analytics company.

Natco is a new player within the cardiovascular and diabetes therapeutic space, launching its Cardiology and Diabetic (CnD) division in early 2017. As per the information available through Natco, the company has a sales force of 350 plus representatives with a focus in oncology and hepatitis C. The CnD division makes up 1% of the overall domestic formulation business and generated sales of approximately $1 million in fiscal year 2019.

Earlier this month, Natco launched Dapnat at a 65%–70% discount compared to Forxiga. GlobalData research has revealed that Natco is the first company worldwide, and India is the first country, to launch a generic version of AstraZeneca’s SGLT2 inhibitor.