Bangladesh is gaining a competitive edge over India in exporting weight-loss drugs to emerging markets. While Indian pharmaceutical giants are preparing to export semaglutide, a popular weight-loss drug, to countries without patent exclusivity, they face strong competition from their neighbor.
Bangladesh's pharmaceutical industry has seen remarkable growth, meeting 98% of its domestic medicinal demand. The sector is projected to exceed USD 6 billion by 2025, establishing Bangladesh as a regional hub for generic and specialized formulations. Pharmaceutical exports have been expanding to over 150 countries, including highly regulated markets like the USA, UK, EU, Canada, and Australia. In the first ten months of FY2024-25, exports reached USD 177.42 million, a 3.46% year-over-year increase.
Several factors contribute to Bangladesh's success in the pharmaceutical industry. The extension of the TRIPS waiver to 2033 allows Bangladeshi firms to produce and export patented drugs. Government incentives, such as tax holidays and export subsidies on APIs and pharmaceutical products, further boost the industry. Moreover, the availability of a skilled, relatively low-cost labor force and a strategic geographical location enhance the country's global competitiveness. The Bangladesh government is actively promoting API manufacturing to build a self-reliant API ecosystem.
India, on the other hand, is also a significant player in the global pharmaceutical market. However, Indian companies face patent restrictions that prevent them from selling semaglutide domestically until Novo Nordisk's patent exclusivity expires in March 2026. Despite this limitation, Indian companies like Dr. Reddy's and Sun Pharma are looking to capture the export market for weight-loss drugs.
The global market for weight-loss drugs is expanding rapidly. Novo Nordisk has launched Ozempic in India, pricing the 0.25 mg weekly dose at $24.35. While primarily meant for treating type 2 diabetes, Ozempic is also used off-label for weight loss. The increasing prevalence of obesity and diabetes in India is driving demand for such treatments, with the anti-obesity drug market reaching ₹628 crore as of June 2025, a fivefold increase over five years. The domestic GLP-1 receptor agonist market is expected to grow at a CAGR of 34.3% from 2025 to 2030.
However, Novo Nordisk faces competition from Eli Lilly's Mounjaro, which has become India's top-selling drug since its launch. Mounjaro has demonstrated more dramatic weight loss results in trials. As patents for semaglutide are set to expire in March 2026, local pharmaceutical companies are expected to launch generic versions, potentially reducing prices.
Despite the growing market and the presence of major players, challenges remain. Manufacturing GLP-1 drugs requires advanced facilities and specialized expertise. Legal battles over patent rights are also unfolding. Political unrest and violence in Bangladesh can pose challenges for Indian pharmaceutical exporters, leading to stranded funds and concerns over financial stability.
Overall, Bangladesh has a head start in exporting weight-loss drugs to emerging markets due to its favorable policies, manufacturing capabilities, and the TRIPS waiver. While India is a strong contender, patent restrictions and domestic market competition present hurdles. As the global demand for weight-loss treatments continues to rise, both countries are poised to play significant roles in the industry.
