Mumbai: Dr. Reddy’s Laboratories Ltd aims to have about 15 GLP-1 drugs, used to treat obesity and diabetes, in its portfolio with various timelines, the pharma major’s chief executive officer Erez Israeli said after the company announced its September quarter results on Tuesday.
With Danish company Novo Nordisk’s patent on semaglutide, a GLP-1 agonist used in popular brands Ozempic and Wegovy, set to expire in India, Dr Reddy’s is among the forerunners trying to bring the drug to India.
“Specifically semaglutide, we are planning to be in all the markets when they open, including the 2026 markets,” Israeli said. “The overall portfolio of GLP (glucagon-like peptide) products for Dr Reddy’s will be about 15 products that will have different time frames for each of them,” he told reporters, adding that the firm is progressing on semaglutide as well as other products.
The drugmaker got a nod from the Central Drugs Standard Control Organization in October last year to carry out a bioequivalence study of semaglutide to establish the drug’s safety and efficacy.
Dr Reddy’s consolidated net profit dropped 9.5% to ₹1,342 crore in the second quarter of FY25 from ₹1,482 crore in the same period last year. Its total revenue from operations rose 16.5% to ₹8,016 crore, which was better than analysts estimates by Bloomberg that had pegged it at ₹7716.5 crore.
However, its profit dipped below Bloomberg projections of ₹ 1426.2 crore. The company said that its profit after tax was affected by one-offs like acquisition costs related to the Nicotinell portfolio, government land tax, and its minority interest in Nestle.
The company’s revenue from North America rose 17%, which it largely attributed to a rise in volumes, but said it was partly offset by price erosion.
