Biocon, Wockhardt, Eris to double insulin output, as global drugmakers scale back to focus on GLP-1, new generation insulins

Indian drugmakers Biocon, Eris Lifesciences, and Wockhardt are ramping up insulin production to capture a growing global opportunity, as market leader Novo Nordisk scales back its presence in human insulin to focus on high-margin GLP-1 therapies and insulin analogues.

Human insulin presents Indian companies an opportunity estimated at Rs 450 crore per annum in India and $157 million/annum in emerging markets.

Biocon, a pioneer in biosimilars, has doubled its insulin manufacturing capacity in Malaysia, positioning itself as the only global player with the scale to fill the void left by multinationals. Chairperson Kiran Mazumdar-Shaw called FY26 an “acceleration year,” citing a “significant windfall” expected from the insulin business.

“Biocon is uniquely positioned to address the growing gap in the insulin market,” Mazumdar-Shaw told Moneycontrol last month. “We’re seeing a surge in global demand, and our expanded capacity allows us to meet it head-on,” she added.

Meanwhile, Eris Lifesciences, which acquired Biocon’s domestic insulin portfolio in 2024, is also doubling its capacity over the next 24 months. The company is commissioning a new cartridge facility in Bhopal and expects to capture ₹200–300 crore of the ₹450 crore opportunity in India alone, created by Novo’s exit from insulin pens and cartridges.

“We are well positioned to capitalise on this disruption,” Amit Bakshi, Chairman and MD of Ahmedabad-based Eris told analysts at the company’s recent earnings call. “With our strategic supply agreement with Biocon and a robust insulin pipeline, we aim to become a dominant player in this space.”

Eris reported 22 percent growth in its insulin franchise despite supply shortages, and expects further margin expansion as it insources production. Its insulin brands, including Insugen, Basalog, Xsulin, and Xglar, are already generating a monthly revenue of ₹23 crore.

Wockhardt is also positioning itself to capitalise on the shifts in the diabetes-care market. The company sells human insulin in India and exports it to around 10 countries.

"The space has opened up for existing players in the insulin market... We are well positioned to capitalise on this opportunity," Murtaza Khorakiwala, Managing Director of Wockhardt, said at the company’s investor presentation this week. To meet this anticipated demand, Wockhardt plans to "double our capacities over the next 24 months", Khorakiwala added.

The company has filed for approval to market Insulin Aspart in India and its pipeline includes Aspart Mix and Lispro R, alongside its commercialised recombinant human insulin and Glargine.

The global human insulin market, once dominated by Novo Nordisk, Eli Lilly, and Sanofi, is undergoing a structural shift. As these players pivot to GLP-1 drugs like Ozempic and Mounjaro, they are vacating low-margin insulin segments, especially in emerging markets.

“We are witnessing a surge in global demand for our insulins,” Mazumdar-Shaw said. “Given our global scale, we are well placed to capitalise on this large opportunity.”

Strategic shifts

Biocon, Wockhardt, and Eris are all aligning their strategies to address the dual burden of diabetes and obesity — or “diabesity.” While Biocon is expanding its GLP-1 portfolio globally, Eris and Wockhardt are preparing to manufacture the weight loss drug semaglutide by FY27.

“We believe an insulin company is the logical owner of the GLP segment,” said Eris COO Krishnakumar Vaidyanathan. “Our field force of 1,200 reps and deep physician relationships give us a strong edge.”

Novo Nordisk said it is only phasing out its Penfill and FlexPen variants of human insulin by the end of this year. However, insulin sold under the brand name Human Mixtard will still be available in India in the form of vials.

Vikrant Shrotriya, Managing Director, Novo Nordisk India, told News18: “Novo Nordisk confirms that it is not discontinuing Human Mixtard in India and will continue to supply it in vials along with other human insulins, including Human Actrapid and Human Insulatard."Penfill is a pre-filled cartridge containing insulin, while FlexPen is a reusable insulin pen that can utilise Penfill cartridges or other insulin solutions. Both are designed for easy and accurate insulin administration through injection.