Dr Reddy's generic Ozempic rival to be launched in March
What's the story
Dr Reddy's Laboratories is gearing up to launch its generic version of semaglutide, the active ingredient in Novo Nordisk's popular diabetes drug Ozempic and weight-loss drug Wegovy. The launch is expected in March under the brand name Obeda. This comes as a major development considering that the patent protection for semaglutide expires in India by next month, prompting Indian drugmakers to prepare affordable alternatives.
Trademark application
Trademark application filed for Obeda brand
Dr Reddy's Laboratories has filed a trademark application for the Obeda brand and logo, according to a government filing. However, when approached by Reuters, a company spokesperson said it would be premature to comment on or disclose any name as the brand name at this stage since semaglutide hasn't been officially launched yet. The company didn't clarify if Obeda would be used for diabetes treatment or weight loss.
Health statistics
India has second-largest number of adults with diabetes
India has the second-largest number of adults with diabetes after China, as per the International Diabetes Federation. A study published in The Lancet predicts that by 2050, India could have more than 440 million overweight or obese people. These alarming statistics highlight the need for effective treatments like semaglutide to combat these growing health issues in the country.
Market approach
Dr Reddy's plans to sell around 12M semaglutide pens
Dr Reddy's plans to sell around 12 million injectable semaglutide pens in the first year of launch. The company intends to price Obeda aggressively, possibly up to 60% lower than the branded product. This competitive pricing strategy is likely aimed at capturing a significant share of India's burgeoning diabetes and weight-loss drug market.
Regulatory status
Competition heating up in India
Dr Reddy's has received regulatory approval to make and sell a generic version of Ozempic. The company is also awaiting clearance for a generic Wegovy, which is specifically approved for weight loss. This further strengthens its position in the market as it prepares to launch Obeda and compete with global giants like Novo Nordisk and Eli Lilly who launched their diabetes and weight-loss drugs in India last year.