USV is planning to introduce nutraceuticals for enhanced diabetes care, says MD Prashant Tewari

USV Pvt Ltd, in collaboration with Biogenomics, recently introduced Insuquick, a biosimilar Insulin Aspart designed for individuals with diabetes in India. The "Make in India" product, accessible in major cities and tier I/II cities, is the first biosimilar in the rapid-acting insulin category. Prashant Tewari, Managing Director (MD) of USV Pvt. Ltd, spoke to Business Today to discuss about Insuquick, the company's expansion plans, investment strategies, and the way forward.

Edited excerpts

What sets Insuquick apart as India's first biosimilar Insulin Aspart for addressing the significant diabetic population?

Insuquick incorporates Insulin Aspart, a rapid-acting analogue of insulin. This formulation arises from the replacement of one amino acid in human insulin with aspartic acid, resulting in Insulin Aspart. While initially invented by Novo Nordisk, Insuquick stands out as the first biosimilar of Insulin Aspart available in India. USV and BioGenomics have achieved the distinction of being the first companies in the country to secure all regulatory approvals, including completing three phases of clinical trials, prior to the product launch.

Therefore, Insuquick holds the distinction of being India's inaugural biosimilar insulin Aspart. Functionally, Insulin Aspart substitutes the body's natural insulin production, aiding in transporting sugar from the bloodstream to various tissues for energy utilisation. It also regulates sugar production in the liver, preventing excess glucose release. Given India's status as the country with the world's second-largest diabetic population, the availability of this biosimilar version offers hope for a more comprehensive treatment option for individuals living with diabetes.

How does Insuquick fit into your strategy to enhance market presence in diabetes?

As one of the leaders in the oral anti-diabetic sector, our primary aim in introducing injectables is to enhance our position across the entire diabetic segment, around both oral and injectable insulin. The launch of Insuquick not only sets us apart but also positions us strategically to expand our market share. Additionally, the evolving guidelines for managing type 2 diabetes emphasize the importance of addressing it with a combination of oral drugs and insulin, including both long-acting and short-acting insulin. The introduction of injectables further strengthens our commitment to managing Type I and II diabetes, as well as gestational diabetes.

Share the company's overview and its growth trajectory over the years?

USV has demonstrated consistent growth in alignment with market trends, boasting a compound annual growth rate (CAGR) of approximately 12 per cent in recent years. This growth is attributed to both volume and value increments. Further, USV holds a top-ranking position in prescription (RX) and value within the oral anti-diabetic therapy sector. Additionally, the company stands as the prescription leader in the Cardiac segment, securing the third position by value.

What will be your focus areas in the years ahead?

An Indian Council of Medical Research (ICMR) report indicates that almost 14 crore people are pre-diabetic and could become diabetic soon. In fact, 20 per cent of pre-diabetic patients will turn into diabetic patients in the next two years. Therefore, our focus areas will remain cardiology and diabetes in terms of prevention and treatment.

Under diabetes care, we are also planning to launch nutraceutical products that will give diabetic patients nutritional options to manage their overall diet. Cardiology will also be a focus area, as cardiac issues continue to be one of our country’s major healthcare burdens in the non-communicable diseases (NCDs) section. In recent years, there has been a concerning uptick in heart ailments in young individuals, along with a rise in mortality, which we are trying to address with relevant solutions.

Are you planning portfolio expansion or entry into new business segments in the coming year, and what is the investment strategy for the next five years?

We are presently concentrating on our existing portfolios. USV remains committed to investments in R&D, quality manufacturing, and testing infrastructure, having invested over Rs 600 million in the past five years. Our intention is to sustain this level of investment in the coming five years.