India's Dr Reddy's to launch generic obesity drugs in 87 countries next year, CEO says
The plan for launch of generic semaglutide, active ingredient of Novo's Wegovy and Ozempic, comes as drugmakers race to grab a share of the global obesity drug market which is expected to generate around $150 billion in sales by the early 2030s.
The company initially plans to launch the generic version in Canada, India, Brazil, Turkey and other emerging markets, subject to patent expiry, Israeli said at a press conference.
"U.S. and Europe will open later," he added.
Dr Reddy's has filed relevant regulatory applications in all the countries it is planning to launch the generic version in, Israeli said.
Semaglutide will go off patent in India in March next year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
10 minutes ago
- Reuters
Brazil coffee growers wary of incoming Trump tariffs
VASSOURAS, Brazil July 28 (Reuters) - Coffee growers in Vassouras, in Brazil's Rio de Janeiro state, are hoping for an eleventh-hour reprieve before the country is subject to tariffs of 50% on its exports to the United States. Earlier this month, U.S. President Donald Trump announced new tariffs, which included raising duties on Brazilian imports to 50% from 10%, effective August 1. Producers of coffee and other goods hope a solution can be found before then. "Brazil is the largest producer and exporter (of coffee) in the world," coffee farmer Thiago Garcia told Reuters at his farm in Vassouras. Around a third of the coffee consumed in the U.S., the world's largest drinker of the beverage, comes from Brazil, which has in recent years been shipping about 8 million 60-kilogram bags (132 pounds) a year there, according to industry groups. "There will be a surplus of coffee here in Brazil and the tendency is for (the price) to decrease, until they find another way to export to other countries," Garcia said.
Reuters
10 minutes ago
- Reuters
Jane Street seeks extension to respond to Indian regulator
BENGALURU, July 28 (Reuters) - U.S. trading firm Jane Street said on Monday that it has sought an extension to respond to an interim order from India's markets regulator alleging it manipulated securities markets. According to the July 3 directive from the Securities and Exchange Board of India, the trading firm had 21 days to respond to the order.
Reuters
40 minutes ago
- Reuters
India's JK Paper reports decline in first-quarter profit on higher costs
July 28 (Reuters) - Indian paper and packaging board maker JK Paper ( opens new tab reported an eighth straight quarter of a decline in profit on Monday and said it would acquire a 72% stake in private peer Borkar Packaging for 2.35 billion rupees. Domestic paper manufacturers have been facing a double whammy of higher wood prices — a key raw material — and lower-priced imports in recent quarters. JK Paper's consolidated net profit fell nearly 42% year-on-year to 812.3 million rupees ($9.4 million) for the quarter ended June 30. The core business "continued to face headwinds from cheap imports resulting in depressed sales realization and ongoing high domestic wood prices", said Managing Director Harsh Singhania. Net revenue from operations declined 2.3% to 16.74 billion rupees, while raw material costs rose 9.2%. Following appeals from the industry, India launched, opens new tab anti-dumping probes into imports of paperboard — used in packaging of products such as consumer goods, pharmaceuticals and electronics — from Indonesia, Chile and China. Separately, JK Paper said the acquisition of Borkar — which supplies to consumer conglomerates such as Unilever and Nestle — will help it emerge among the top three players in the folding cartons segment of packaging. Borkar has factories in eight locations across India. ($1 = 86.6830 Indian rupees)
