Wockhardt Limited Files for Aspart Insulin Injection, Share Price Hits 52-Week High

Wockhardt Limited has announced the filing of its fast-acting insulin analog, Aspart injection (ASPARAPIDTM), with the Drugs Controller General of India (DCGI). This milestone underscores Wockhardt’s commitment to combat the rising diabetes epidemic, which affects over 77 million people in India and more than 537 million globally, with projections indicating a rise to over 643 million by 2030.

The increasing prevalence of diabetes is attributed to lifestyle changes, an aging population, and urbanization. Wockhardt’s ASPARAPIDTM is an indigenously developed product, showcasing the company’s comprehensive capabilities in research and development, clinical studies, and biosimilars manufacturing. By utilizing its integrated infrastructure, Wockhardt has successfully navigated all phases of ASPARAPIDTM development, ensuring enhanced quality and accessibility for patients.

The insulin injection will be available in cartridges, vials, and prefilled disposable pens, providing flexibility for diabetes management. The current market size for Aspart in India is estimated at over ₹260 crore, with only two existing players, suggesting significant growth potential in the coming years.

Commenting on this development, the Founder Chairman of Wockhardt, Dr Habil Khorakiwala, said, “We are proud of adding another feather in our diabetes biosimilars portfolio through filing of insulin Aspart injection in a market that has limited competition. This reinforces Wockhardt’s ability to develop and manufacture complex biosimilars domestically. Our aim is to make world-class diabetes care accessible to patients in India and globally and to contribute meaningfully to the management of diabetes.”

Additionally, Wockhardt is expanding its diabetes care offerings by developing further insulin analogs and GLP-1 agonists. This strategic move aims to enhance Wockhardt’s diabetes portfolio, providing patients with more effective treatment options for managing their condition. With these developments, Wockhardt is poised to make a significant impact on diabetes care in India and beyond.

Followed by this news, on October 16, 2024, the share price of Wockhardt Ltd touched its day’s high and 52-week high at ₹1,126.50, as of 12:21 PM on the NSE. 

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