July 9 Dr Reddy’s Laboratories said on
Thursday that it is delaying commercial supplies of semaglutide
due to an issue related to the active pharmaceutical ingredient
used in the drug, sending its shares down.
Semaglutide is the key ingredient in Novo Nordisk’s
blockbuster diabetes and obesity medicines. Dr
Reddy’s has also launched its semaglutide injection, Obeda, in
India to treat diabetes.
The drugmaker said that certain batches of
semaglutide were found to be out of specification and that it is
investigating the root cause and taking measures to ensure
product quality.
“There is no impact on patient safety or on the product’s
existing global regulatory filings,” Dr Reddy’s said in a
statement.
Dr Reddy’s did not specify until when the supply issues
would last and did not disclose further details.
Its shares were trading 1.8% lower at ₹1,324 at 10:20
a.m. IST, while the pharma index was up 1.8% and
Nifty 50 was 0.6% higher.
More than half a dozen Indian drugmakers have launched
lower-cost copies of Novo Nordisk’s Ozempic and Wegovy, vying
for a share of the fast-growing global obesity treatment market.
Demand for the drugs has plateaued in June, according to
research firm Pharmarack.