The segment is witnessing a structural shift, with Kotak Institutional Equities projecting the overall GLP-1 market to reach ₹15,700 crore by FY32, of which generics would form ₹10,000 crore. This would benefit companies like Eris Lifesciences, Torrent Pharmaceuticals, Natco Pharma and Lupin. About 6.6 million Indians are expected to be on GLP therapies by FY32 from 0.27 million currently, added Kotak.
