Mankind eyes 50% revenue from chronic segment in 3 years

Mankind Pharmaceuticals, a key player in acute therapies, has sharpened its focus on chronic therapy drugs (like anti-diabetics and cardiac) and is eyeing 50 per cent revenue from this segment in three years.

In fact, it recently applied to drugs regulator Drugs Controller General of India (DCGI), seeking approval to start phase 1 human trials of its novel anti-diabetes drug, which has completed animal trials. The compound annual growth rate (CAGR) in the chronic portfolio is 30 per cent and the category contributes around 25-30 per cent of overall revenues. The ~6,500-crore privately held firm is eyeing a turnover of over 50 per cent from chronic therapies in the years to come.

Anti-infectives have a broader base for us, but the growth rate in chronic is much faster, said Arjun Juneja, director, operations, Mankind Pharma. He added, “We expect to have at least 50 per cent share from chronic therapies in the next three to four years.” It had launched a product in the female hormone space, dydrogesterone, in December 2019.

With the launch, the company has become the first Indian and second global firm to develop the drug, which is a generic version of Abbott’s Duphaston.

Juneja said that Mankind’s brand has touched a turnover of ~50 crore in around a year of its launch. Abbott has a turnover of around ~400 crore from this product, he added.

The firm is also focusing on in-licensing deals with multinational firms in the chronic space and this could boost its portfolio.

Mankind will conduct phase 1 clinical trials for the novel drug in the anti-diabetic space. MKP10241, a patented novel chemical entity, has been developed in-house.

Juneja said “Our product works on GPR-119 inside the body. It’s mechanism of action is distinct from gliptins and gliflozins (two popular classes of anti-diabetic drugs).”

This new drug controls the intake of food and your appetite, which in turn, controls the secretion of insulin in the body. That is how it has an impact on GPR cells, which tells the body how much insulin to secrete. “If one needs to take more food to ensure secretion of insulin, it will make you eat more, and vice versa. It has a dual mechanism – it induces appetite or reduces it as required in individuals,” he said.

The product has been under development for about four years, and if all goes well, it will take around five-six years to hit the market.