Dr Reddy's Labs plans to roll out cheaper Wegovy copycat across 87 countries in 2026: CEO
Hyderabad: Dr. Reddy's Laboratories is gearing up to shake up the global weight-loss drug market with the launch of an affordable copycat version of Wegovy, the blockbuster weight-loss drug from Novo Nordisk. The Indian pharmaceutical giant plans to introduce the drug in 87 countries next year, the Indian drugmaker's CEO, Erez Israeli, said.
The company is aiming to capture a slice of the lucrative global obesity drug market, projected to generate around $150 billion in sales by the early 2030s.
Dr Reddy's initially plans to launch the generic version of semaglutide - the active ingredient of Novo's Wegovy and diabetes medicine Ozempic - in Canada, India, Brazil, Turkey and other emerging markets, subject to patent expiry, Israeli said.
"U.S. and Europe will open later... (and) all the other Western markets will be open between 2029 to 2033," Israeli said a press conference to discuss the company's earnings.
As per Reuters, he expects the generic drug to generate 'hundreds of millions of dollars' in sales for the company.
Semaglutide's patent is expected to expire in several countries next year, including in India in March.
Novo Nordisk had sued Dr Reddy's in May alleging patent infringement of semaglutide, according to documents seen by Reuters.
Dr Reddy's has filed relevant regulatory applications in all the countries it is planning to launch the generic version in, Israeli said. Other Indian drugmakers, including Cipla, Lupin , Biocon, Sun Pharma, also plan to launch these generic weight-loss drugs after Novo's and Lilly's success.
Novo launched Wegovy in India last month, following Lilly's Mounjaro launch for weight-loss and diabetes management.
The drugs belong to a class called GLP-1 receptor agonists that help control blood sugar and slow digestion, making people feel fuller for longer.
Dr Reddy's also aims to launch 26 GLP-1 drugs within the next decade, Israeli said.
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