2024-11-05 20:42:29 :
MUMBAI: Pharmaceutical major Dr. Reddy’s Laboratories Ltd aims to have around 15 GLP-1 drugs in its portfolio to treat obesity and diabetes, Chief Executive Officer Erez Israel said after reporting its September quarter results on Tuesday. , specific schedules vary. .
Dr. Reddy was trying to bring the drug to India as the patent on Danish company Novo Nordisk’s semaglutide, a GLP-1 agonist used in popular brands Ozempic and Wegovy, was about to expire in India. One of the pioneers.
“With semaglutide in particular, we plan to enter all markets as they open, including in 2026,” Israel said. “Dr Reddy’s overall GLP (glucagon-like peptide) product portfolio will include approximately 15 products, Each product has a different time frame,” he told reporters, adding that the company was making progress on semaglutide as well as other products.
In October last year, the drugmaker received approval from the Central Drugs Standard Control Organization to conduct a bioequivalence study of semaglutide to determine the safety and effectiveness of the drug.
Dr Reddy’s consolidated net profit falls 9.5% $Revenue in Q2 FY25 Rs 1,342 Crore $1,482 crore in the same period last year. Its total operating income increased by 16.5% $8,016 crore, better than analyst forecasts from Bloomberg $7716.5 Crores.
However, its profits fell short of Bloomberg forecasts $ 1426.2 Crores. The company said its profit after tax was affected by one-off impacts such as acquisition costs related to the Nicotinell portfolio, government land tax and a minority stake in Nestlé.
The company’s revenue from North America rose 17%, mainly due to higher volume, but it said this was partially offset by price erosion.
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