Evidently, biotech drugs are leading the world of pharmaceuticals today increasingly overshadowing the conventional chemical entities. Irrefutably, the growing statin market plays a vital role in pushing the biotechnology sector to the forefront.
The statins are a relatively new group of drugs used to lower blood cholesterol levels. Worldwide statin market is estimated to be $ 20 billion with a growth rate of 30 per cent annually. The players ruling the statins segment in India including Ranbaxy, Lupin, US Vitamin, Emcure, Cipla, Microlabs. The statins manufactured mainly in India include lovastatin, simvastatin, pravastatin and atorvastatin.
The Mumbai-based 1200-crore Lupin Pharma is one of the major players in the statin market. Lupin had launched rosuvastatin in the market three months back with the name Novastatin. Almost 10 Indian companies produce rosuvastatin in the market. Lupin's atrovaststin, named Tonact has a major share of 10 crore in the Indian market. "Lupin Limited eyes the new statin segments rather than the old ones like Lovastatin and Simvastatin," says Dr Jaydip Bhaduri, Medical director of Lupin Limited.
Indian pharma major, Ranbaxy Laboratories had launched rosuvastatin under the brandname, Rosuvas in September last year. Ranbaxy has garnered a 20 per cent market share in statin segment with their brands of Storvas (atorvastatin), Simvotin (simvastatin), Pravator (pravastatin) and Rovacor (lovastatin).
Last year, Bangalore-based Micro Labs' Carsyon division had launched rosuvastatin, under the brand name Turbovas. The division already has a strong presence in the statin market with two major brands, Avas (atorvastatin) and Simvas (simvastatin).
The Indian pharma companies are thronging the statin market which may cause a steep reduction in the prices.
"As cut-throat competition prevails the market, naturally, the prices are getting lower in the market. When atrovastatin was launched in 1998, its price was around Rs 23 per tablet and now it was reduced to about Rs 5 - 5.30," states Dr Bhaduri.
No doubt, as Dr Bhaduri says, the statin market will bear witness a furious showdown in the market as a number of patents will be expired next year