Gedeon Richter and Hetero Labs to develop generic Ozempic
Business
Gedeon Richter and Hetero Labs are joining forces to develop a generic version of Ozempic, the well-known diabetes shot.
They're splitting costs and profits, with each company handling different regions.
Regulatory filings have already started, and they're aiming for EU and US submissions in 2027.
Hetero US presence, Richter Europe reach
The plan is to combine Hetero's strong presence in the US and emerging markets with Richter's reach across Europe and Central Asia.
Down the line, Richter might take over manufacturing for Europe.
Both companies say they're committed to making high-quality diabetes treatments more affordable. Hetero has even invested early in technology and production to speed things up.