A new weight loss drug will “put a lot of pressure” on companies to lower their prices, an industry insider has predicted.
Ozempic is a prescription only drug that many Irish patients pay around €150 a month for.
Last month, another drug, Wegovy, became available in Irish pharmacies as well.
Both are injectable but Gustav Gram, CEO of Pila Pharma, said his company is close to developing an alternative.
“We’re working on a novel oral solution for treating overweight [people],” he told Business Breakfast with Joe Lynam.
“But also, all the complications that come with being overweight; so, type 2 diabetes, cardiovascular disease and, potentially, venal disease and kidney disease.”
Mr Gram said that there are clear advantages to an oral drug over what is currently available for patients.
“You’re not going to be able to address the whole volume that is prevalent on a global basis with injectable treatments,” he said.
“If you really want to treat the root problem, you need to have an oral solution.
“So, that’s where our company, but equally a lot of companies, are starting now to really develop different types of solutions that are maybe not targeting the same kind of mechanisms in the body as the current generation of treatments.”
Timeframe
However, Mr Gram cautioned that any drug is unlikely to hit pharmacies for “a number of years” to come.
“We are in phase 2, so we are testing in humans,” he said.
“But, of course, making pharmaceutical products requires very rigorous testing over a number of years involving multiple dose levels and thousands of patients.
“So, this will likely take five to six-years.”
Mr Gram said that as new weight loss drugs are licensed for patients, the increase in competition will lead to lower prices.
“It’s like any business in that sense,” he said.
“If you have more competition, you will need to lower your prices.
“But, of course, it depends on the margins at which you can produce these tablets as well.
“So for sure, next year I know that Eli Lilly is coming with a weight loss tablet for the American market.
“That for sure is going to put a lot of pressure on the injectable solutions.”
According to the HSE, 23% of Irish people are obese.
Main image: Wegovy and Ozempic. Image: Alamy.com
