Dr Reddy's Laboratories plans to launch a cheaper copycat version of Novo Nordisk's blockbuster weight-loss drug Wegovy in 87 countries next year, the Indian drugmaker's CEO, Erez Israeli, said on Wednesday.
The plan for launch of generic semaglutide, active ingredient of Novo's Wegovy and Ozempic, comes as drugmakers race to grab a share of the global obesity drug market which is expected to generate around $150 billion in sales by the early 2030s.
The company initially plans to launch the generic version in Canada, India, Brazil, Turkey and other emerging markets, subject to patent expiry, Israeli said at a press conference.
"US and Europe will open later," he added.
Dr Reddy's has filed relevant regulatory applications in all the countries it is planning to launch the generic version in, Israeli said.
Semaglutide will go off patent in India in March next year.
