MUMBAI (Diya TV) — Indian drugmaker Dr. Reddy’s Laboratories plans to launch a generic version of Novo Nordisk’s blockbuster diabetes drug Ozempic in March. The move comes as the drug’s patent expires in India. The launch could reshape access to diabetes care in one of the world’s largest markets and spark intense competition in the fast-growing weight-loss and diabetes drug space.
Dr. Reddy’s Laboratories Ltd. said it will sell its generic Ozempic at competitive prices. The company aims to improve affordability for Indian patients with type 2 diabetes. M.V. Ramana, chief executive officer for Branded Markets, shared the plan with reporters on Wednesday. Ramana said pricing will reflect market conditions. He noted that rival pricing will also influence final costs. “This would be a major opportunity,” he said.
Investors welcomed the news. Dr. Reddy’s shares jumped as much as 5.8% in Mumbai on Thursday. That marked the stock’s biggest intraday rise since April. The surge followed strong December-quarter earnings that beat analyst estimates.
The Ozempic patent in India expires on March 21. That date makes India a key market for Dr. Reddy’s global strategy. The company also sees strong potential in Turkey, Brazil, and Canada, according to CEO Erez Israeli.
The launch signals the start of broader global competition for Novo Nordisk. Ozempic and related drugs generate about $30 billion in annual sales. Many drugmakers now prepare to sell lower-cost versions in markets with limited access. India stands out due to its large diabetes population. Millions of patients struggle with high drug costs. A cheaper generic semaglutide could change treatment patterns across the country.
Semaglutide serves as the key ingredient in Ozempic and Wegovy. Analysts expect prices to drop fast as generics enter the market. Nomura analyst Saion Mukherjee said generic semaglutide could cost as little as $40 by 2026. That figure sits at less than half the current Ozempic price in India.
Lower prices could expand access beyond urban centers. Doctors may prescribe the drug more often as costs fall. Patients may also stick to treatment longer. Dr. Reddy’s plans to sell 12 million pens in the first year. Israeli said the company will make the active pharmaceutical ingredient in-house. This approach could help control costs and ensure a steady supply.
Dr. Reddy’s will partner with other Indian companies to market the drug. These partnerships aim to strengthen distribution and reach more patients. The company has already secured key approvals from the Drugs Controller General of India.
It has received both marketing and manufacturing approvals for generic Ozempic. These clearances allow the company to move quickly once the patent expires. Dr. Reddy’s also seeks approval for a non-branded version of Wegovy, Novo Nordisk’s weight-loss drug. The company awaits a marketing decision in India for that product.
Outside India, Canada remains a major focus. Dr. Reddy’s filed a response in November to a notice of non-compliance from Health Canada. The notice said the drug did not meet certain regulatory requirements.
Health Canada has up to 180 days to respond. Israeli said the company expects a decision by May. He added that the firm stands ready to launch right away. “If we get approval in this timeframe, we will be first to launch in Canada,” he said. A Canadian launch would mark a major step in Dr. Reddy’s global expansion. It would also increase pressure on branded drug prices in developed markets.
