Dr. Reddy's gets Canada approval for generic semaglutide, 1st G7
Business
Dr. Reddy's just got a big boost: Canada approved its generic version of semaglutide, making it the first G-7 country to do so.
Shares surged right after the news, and the company received official approval on April 22 as scheduled.
Dr. Reddy's $100 million potential in Canada
With Canada's semaglutide market topping $1.5 billion, Dr. Reddy's could earn up to $100 million in fiscal 2027 before major rivals show up.
Analysts say they have about six to nine months of head start.