Mumbai: Laboratories of Dr. Reddy’s, which received regulatory approval for generic semaglutide in Canada on April 29, is preparing to launch the drug in the next few days, its top management told reporters at a news conference.
The The drugmaker, which also launched generic semaglutide injection in India under the brand ‘Obeda’ in March, is launching oral tablets of the popular weight loss drug in the country in the next few days and is also adding other brands to its portfolio, management said.
“It’s all about logistics. In the next (few) days, semaglutide will be on the Canadian market,” CEO Erez Israeli told reporters on Tuesday. The Hyderabad-based drugmaker was the first to receive approval from Canadian regulator Health Canada for a generic version of semaglutide. Shortly thereafter, comprehensive generic manufacturer Orbicular Pharmaceutical Technologies Pvt. Ltd also announced that it has received approval in Canada.
Canadian patent for semaglutide, a blockbuster drug used to treat type 2 diabetes and weight loss, expired in January 2026.
The price would be higher initially, given that there are currently only two generic players, and would erode over time, the Israeli said, declining to give details.
The company is also launching oral semaglutide tablets in India in the next few days, which were approved in April. The the drugmaker has approval to market the drug for type 2 diabetes, but plans to expand to other indications in the future. “We also have a strategy to specifically have products that target non-diabetes indications and that is the idea that the two other brands would do that,” said MV Ramana, Chief Executive Officer (CEO), Global Generics, Dr Reddy’s Laboratories, adding that generic semaglutide is gaining significant traction in the Indian market.
Dr Reddy’s is also in the process of securing regulatory approvals for other markets where the drug is losing patent exclusivity and plans to launch in more than 80 countries in the near future.
“Semaglutide is actually a vehicle for us to structurally and strategically enter the GLP-1 space,” said Deepak Sapra, CEO, API and Services, Dr Reddy’s Laboratories.
Financial performance
Dr Reddy’s on Tuesday reported its fourth-quarter and full-year FY26 results, missing estimates, as the loss of exclusivity for blood cancer drug Lenalidomide in the US market, as well as write-downs on its CAR-T assets and discontinued licensed product Eftilagimod Alfa weighed on it.
Its Q4FY26 net profit fell 86.2% YoY to ₹220.1 million, while sales fell by 11.6% year-on-year. ₹7,516.2 million crowns.
Ebitda fell by 60% year-on-year. ₹980 crore for the March quarter. For the entire financial year 2026, the profit of Dr. Reddy by 24.2% year-on-year. ₹4,285 trillion, with sales up 3.2% year-on-year. ₹33,593.3 million crowns.
