Financial Daily from THE HINDU group of publications
Saturday, Jan 04, 2003
Financial Daily from THE HINDU group of publications Saturday, Jan 04, 2003 |
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Corporate
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Announcements Novo Nordisk too cuts prices Our Bureau
CHENNAI, Jan. 3 NOVO Nordisk has reduced the price of human insulin by almost 25 per cent for human insulin vials filled in India. Dr Anil Kapur, Managing Director and Vice-President (International Operations), Novo Nordisk India Private Ltd, said the price for locally filled human insulin vials (40iu) Human Mixtard, Human Actrapid, Human Monotard and Human Insulatard will come down by about Rs 50 effective first week of February. At present, the price of the company's locally filled human insulin is Rs 197 for (40 iu). He said Novo Nordisk India had not increased the prices of its insulin since 1998, despite competitors constantly doing so. This has already made Novo Nordisk human insulin the least expensive in the country. He added that the new prices would take two weeks to a month to take effect, by which time the new stock would enter the market. Dr Kapur said this was done because India was home to 32.7 million people with diabetes, the largest in the world. At present, the size of the diabetes market is around Rs 600 crore of which insulin constitutes around Rs 170 crore. The number of people with diabetes is expected to climb to over 57 million by 2025. With the lack of State funding for healthcare, the onus of providing treatment rest squarely with the individual, making for a serious public health concern, he said. Dr Kapur said this step in bringing down the price, which would no doubt affect the company's bottomline, would improve access to insulin and help people with diabetes achieve better glycemic control.
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