Torrent Emerges Early Leader in India's Generic Semaglutide Race with 38% Market Share: Report

New Delhi: Ahmedabad-based drug maker Torrent Pharma has emerged as the early frontrunner in India's fast-expanding generic semaglutide market, capturing nearly 38% market share within just a month of launch, according to the latest Pharmarack IPM Performance, PharmaTrac MAT April 2026 report.

The company also secured around 28% share in the injectable semaglutide generics segment, underlining its aggressive entry strategy in the rapidly growing GLP-1 agonist therapy space.

The report showed that the entry of generic manufacturers has dramatically reshaped India’s GLP-1 agonist market, which has more than tripled in turnover over the last year. The overall GLP-1 agonist market expanded from Rs 545 crore in April 2025 to Rs 1,736 crore in April 2026. Tirzepatide accounted for 63% of the market with Rs 1,094 crore sales, while semaglutide contributed Rs 528 crore, representing nearly 30% of the total segment value.

Pharmarack noted that semaglutide and tirzepatide injections launched during 2025 played a key role in accelerating growth, while generic competition further expanded patient access and overall market size. Key drivers behind this expansion included increased awareness of GLP-1 therapies before injectable launches in India, user-friendly injectable formulations, partnerships by innovator companies to improve market reach, aggressive promotional activity, price reductions to improve affordability, and the launch of multiple lower-priced generic brands.

Within the injectable GLP-1 agonist category, the market witnessed an almost tenfold expansion compared to the same period last year. The injectable GLP-1 market rose from Rs 140 crore in April 2025 to Rs 1,408 crore in April 2026, with tirzepatide contributing Rs 1,094 crore and injectable semaglutide accounting for Rs 199 crore.

The report further highlighted that monthly semaglutide sales surged significantly following the launch of generics. The overall semaglutide market increased from Rs 48 crore in February 2026 to Rs 88 crore in April 2026. During the same period, generic semaglutide sales jumped from zero to Rs 44 crore, while innovator semaglutide brands declined slightly from Rs 48 crore in February to Rs 44 crore in April.

Injectable semaglutide demonstrated even sharper growth trends. Injectable semaglutide sales rose from Rs 24 crore in February 2026 to Rs 61 crore in April 2026. Generic injectable semaglutide contributed Rs 38 crore in April alone, while innovator injectable brands accounted for Rs 23 crore. Pharmarack described this as evidence that generic entry significantly expanded affordability and broadened market access while innovator products continued to maintain a loyal prescriber and patient base.

In volume terms, semaglutide injectables recorded explosive growth. Total injectable semaglutide units increased from 25,000 units in February 2026 to 170,000 units in April 2026, representing a 6.8-times rise. Generic semaglutide injectables alone contributed 137,000 units in April, compared to 32,000 units for innovator brands. The report stated that strong volume growth reflected increased affordability combined with aggressive promotional efforts by generic manufacturers, which helped expand the overall market.

An in-depth injectable market analysis showed that innovator semaglutide brands collectively continued to grow despite direct molecular competition from nearly 25 generic brands. Novo Nordisk’s Wegovy increased from 10,000 units in March to 17,000 units in April, while Ozempic maintained stable volumes at 12,000 units. Emcure’s Poviztra and Abbott’s Extensior also registered growth. Combined innovator semaglutide brands recorded nearly 40% volume growth in April over March.

The report also examined the oral semaglutide segment, where generic competition began influencing volumes though value growth remained relatively moderate. Oral semaglutide sales increased from Rs 24 crore in February 2026 to Rs 27 crore in April 2026. Generic oral semaglutide products contributed Rs 6 crore in April, while innovator sales declined from Rs 24 crore to Rs 21 crore. In volume terms, oral semaglutide consumption increased from 892,000 tablets in February to 1.257 million tablets in April, with generic products accounting for 468,000 tablets. Innovator brand Rybelsus continued to dominate the branded oral segment, while Semalix and Sembolic emerged among the leading generic brands.

Among generic manufacturers, Torrent led the market with Rs 17 crore semaglutide sales in April 2026, translating into 38% overall market share. Zydus and Lupin each captured around 10% share, while Dr. Reddy’s Laboratories secured approximately 8–10%. Eris, Alkem, Sun Pharma, USV, MSN, Corona, Glenmark and Natco also established positions in the market. Pharmarack specifically noted that Eris, Alkem, MSN and Corona improved their market share during April.

The broader Indian Pharmaceutical Market (IPM) posted strong growth during April 2026, registering 10.3% monthly value growth and 8.9% MAT growth. The anti-diabetic therapy segment grew 16.2% monthly and 12.2% MAT, making it one of the strongest-performing therapy categories. Within anti-diabetics, GLP-1 agonists emerged as the fastest-growing subsegment, posting an extraordinary 260% monthly value growth and 219% MAT value growth.

Pharmarack further observed that all three key IPM growth drivers — volume growth, price growth and new product growth — remained positive for seven consecutive months, signalling strong momentum for the Indian pharmaceutical industry. For April 2026, new product growth stood at 3.6%, price growth at 5.6%, and volume growth at 1%.

In the overall corporate rankings, Torrent Pharma stood fifth among India’s top pharmaceutical companies with monthly sales of Rs 1,178 crore in April 2026, recording 14.3% value growth. The report also highlighted Torrent’s brand Cilacar among the top-performing brands in the Indian market, with strong double-digit growth in both value and unit terms.

Summarising its findings, Pharmarack stated that the entry of generics into the GLP-1 agonist segment has substantially expanded the market, improved accessibility and intensified competition. While aggressive efforts by generic companies are driving rapid adoption, innovator brands continue to retain significant loyalty among doctors and patients, indicating that both branded and generic therapies are likely to coexist strongly in the evolving diabetes and obesity treatment landscape in India.