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The company is aiming to launch the product as soon as the Danish drug maker Novo Nordisk’s patent expires early next year, top company officials said.
“The Subject Expert Committee (SEC) under Central Drugs Standard Control Organization (CDSCO) recommended grant of permission to manufacture and market semaglutide injection in India. We are in the process of getting the final approval and launch the product as soon as the patent expires in the Indian market (early next year),” said MV Ramana, chief executive officer, branded markets (India and Emerging Markets), after the company announced its second quarter results post market hours on Friday.
Semaglutide patent in India is set to expire in March 2026.
“We need to get the approval from the DCGI. Our aspiration is to launch the product as soon as the patent expires,” he said.
However, the company ruled out any marketing partnership with Eli Lilly for its weight loss molecule tirzepatide. Asked if the company was looking for any such collaboration with the US drug maker, “We are not,” said Erez Israeli, chief executive officer, Dr Reddy’s Lab.Lilly’s Mounjaro (tirzepatide) is now the top-selling drug in the Indian pharmaceutical market with sales value surging to Rs 112 crore in six months of its launch. Novo Nordisk’s Wegovy (semaglutide), on the other hand, could post only Rs 28 crore in four months since its launch in June.On Friday, Dr Reddy’s Laboratories reported a 9.8% rise in consolidated revenues year-on-year (YoY) to Rs 8,805 crore, while profit after tax increased 14% YoY to Rs 1,437crore. EBITDA margin was at 26.7% vs 28.4% in Q2 FY5.
However, gross margins contracted by 492 basis points YoY to 54.7%, largely due to lower Lenalidomide sales, price erosion in the US generics segment and one-time inventory provisions linked to discontinued pipeline products.
Growth in the second quarter was driven by momentum in branded markets and steady contributions from the Nicotine Replacement Therapy (NRT) portfolio, which helped offset the decline in US Lenalidomide sales.
On tirzepatide gaining traction over rival semaglutide in India, Ramana is of the view that after the patent expiry, the market will evolve differently.
The company had earlier said it was betting big on generic semaglutide and had plans to launch in 87 countries in 2026 – as a future growth driver.
“In other markets we are having active conversation with the regulators and the effort will be that as and when the patent expires in those countries, we will be able to take the products into the market,” said Israeli.
Though the company did not share any specifics of pricing of the generic product, it said it will be competitive.
“There are other companies that will be launching the product and hence it will be a competitive market. But having said that, we expect a significant amount of unmet need both from the point of diabetes and the ability to manage obesity so this market will grow and players who have control on the value chain would definitely benefit and get part of the growth,” said Ramana.
