India's OneSource eyes weight-loss drug boost to order book
Global drugmakers, including generic drug manufacturers in India, are racing to develop their versions of blockbuster injectable obesity drugs from Denmark's Novo Nordisk (NOVOb.CO), opens new tab and U.S.-based Eli Lilly (LLY.N), opens new tab. The active chemical compound in Novo's injectable Wegovy drug, semaglutide, will go off patent in 2026 in a few markets, including India.
OneSource, which added 15 orders related to obesity and diabetes drugs in fiscal year 2025, said there are more in the pipeline. The global obesity market is estimated to be valued at $150 billion by the early 2030s.
The company develops and manufactures complex biological drugs, vials, injectables, and soft gelatin capsules for larger pharmaceutical firms.
"Our growth over the next few years will be driven by commercial launches of GLP-1s (weight-loss and diabetes drugs) by our global customers in all the key markets opening post patent expiry in 2026," CEO Neeraj Sharma told Reuters in an interview.
Backed by increasing demand from weight-loss drug manufacturers, OneSource's order book across all service verticals should expand in line with 30% compound annual growth rate through fiscal year 2028, according to the CEO.
OneSource, which competes with larger players such as Piramal Pharma (PIRM.NS), opens new tab and Divi's (DIVI.NS), opens new tab in contract research, development and manufacturing, is investing about $100 million to expand its drug device facilities, the CEO said.
The company, which was demerged from Strides Pharma Science (SRID.NS), opens new tab and listed in January, is also looking at setting up a global footprint in manufacturing, both in Europe and the U.S.
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