Dr. Reddy's pauses semaglutide supplies for Obeda over quality concerns
Business
Dr. Reddy's has hit pause on supplies of semaglutide, the main ingredient in its new Obeda diabetes shot, after some batches didn't meet quality standards.
The company says there's no risk to patient safety or existing approvals, but hasn't said when supplies will restart.
They're looking into what went wrong and promise to fix it.
Dr. Reddy's stock dips 1.8%
After the news broke, Dr. Reddy's stock dipped by 1.8%, even though the broader pharmaceutical market was up.
The company is one of several Indian drugmakers making generic versions of blockbuster obesity drugs like Ozempic and Wegovy, hoping to tap into the global demand for these treatments.