The molecule, Teneligliptin, is licensed from Japanese drug maker Mitsubishi Tanabe Pharma, which holds the patent for the molecule globally, except in India.
Glenmark Pharmceuticals on Wednesday launched its "low-cost anti-diabetic" drug to treat type 2 diabetes, which it claims will be sold at half the price of similar molecule of competitors.
The molecule, the company said, could help bring down the cost of the medicines by 55%
India reported nearly 69 million cases of diabetes in 2014, according to the International Diabetes Federation. The country's diabetic population is expected to touch 110 million by 2035, it said.
Most gliptins are priced in the range of Rs 40-45 per day of treatment, while Glenmark has priced it at Rs 19.9 per day of treatment.
"This translates into a saving of approximately Rs 9,000 per year for diabetics with the introduction of Teneligliptin," said Sujesh Vasudevan, President, Head-India formulations & MENA (Middle East & North Africa).
Glenmark had received approvals from the Drugs Controller General of India (DCGI) for Teneligliptin after clinical trials on the molecule for over two years across 36 centres on a sample size of 237 people. Vasudevan claimed that gliptins being marketed in India are currently imported.
"This drug will be playing a major role in making anti-diabetics treatment more effective and affordable for millions of patients across the country," said Vasudevan.