The Globe and Mail reports in its Saturday edition that Dr. Reddy's Laboratories has expanded its generic Ozempic portfolio by introducing two new brands to address supply chain issues affecting its Obeda injections. A Reuters dispatch to The Globe reports that this change comes after disruptions impacted the sales of Obeda in India's growing semaglutide market, the active ingredient in Novo Nordisk's Wegovy.
Shares in Dr. Reddy's fell by as much as 2 per cent after the Reuters report, before paring some losses to settle 1.4 per cent lower.
Dr. Reddy's launched Obeda, a generic version of Novo's diabetes drug, in India in March and later in Canada after semaglutide lost patent protection, setting off a race among domestic drugmakers to launch lower-cost versions. Dr. Reddy's said at a media briefing on Friday that after encountering manufacturing issues with Obeda in July, it had shifted production to a partner's facility to maintain supplies.
Dr. Reddy's said that its Obeda Pro and Obeda Plus would remain available in the market and could be used for diabetes treatment and weight management.
Several distributors told Reuters that Dr. Reddy's is likely to discontinue Obeda and will focus on Obeda Pro and Obeda Plus.
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