Dr Reddy's adds two semaglutide brands as Obeda injection supplies stay disrupted

what happened

Dr Reddy's Laboratories has widened its range of generic Ozempic versions with two new brands, according to Moody's, which cites product images and marketing materials seen by Reuters. The move comes as supply problems have hit sales of its Obeda injection, a key product in India's fast-growing semaglutide market.

Shares of the company fell as much as 2% after the report and finished 1.4% lower. Dr Reddy's halted Obeda injection supplies after finding an impurity in the active ingredient and moved production to a partner plant. The company says Obeda Pro and Obeda Plus, made by Hetero Labs, remain on sale, and that it expects to relaunch the injection next month.

Pharmarack projects India's semaglutide market will reach 80 billion rupees ($844 million) by 2030. Through September, Dr Reddy's sold about 442,000 units of generic semaglutide, versus 151,000 for Sun Pharma.

why it matters

For investors, the key question is Dr Reddy's share of a fast-expanding market. Analysts have warned that a prolonged shortage could hand part of that market to rivals, so the pace of the injection relaunch will matter for the stock.

market impact

Dr Reddy's: risk of losing semaglutide share in India as Obeda injection supplies remain halted

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