India’s Generic Semaglutide Market Faces Branding Dispute

Dr. Reddy’s to Rename Semaglutide Drug Following Court Concerns​

Brand Name Change Underway​

New Delhi – Dr. Reddy’s Laboratories informed the Delhi High Court on Friday that it intends to change the brand name of its semaglutide drug from ‘Olymviq’ to ‘Olymra’. This decision follows a judge’s observation that the existing name could cause confusion within the pharmaceutical industry.

Generic Approval and Competitive Landscape​

The company is the first Indian firm to receive approval from the Drugs Controller General of India for generic semaglutide. This approval coincides with India’s opening to generic versions of semaglutide following patent expiry, leading to increased competition among drug manufacturers. Novo Nordisk markets semaglutide under brands including Ozempic, Wegovy, and Rybelsus.

Prior Launch and Strategic Expansion​

Earlier this month, Dr. Reddy’s launched its injectable semaglutide under the brand name ‘Obeda’. Erez Israeli, Chief Executive Officer of Dr. Reddy’s Laboratories, stated, “With this launch, we aim to expand access to advanced diabetes therapies and address unmet patient needs in India.”

Court Intervention and Rollout Halt​

The Delhi High Court previously directed Dr. Reddy’s to halt the rollout and sale of ‘Olymviq’ due to concerns about its similarity to Novo Nordisk’s ‘Ozempic’. The court highlighted potential confusion for patients, doctors, and pharmacists resulting from the phonetic and visual resemblance between the two names.

Share Price Update​

As of 2 p.m. on Friday, shares of Dr. Reddy’s Laboratories were trading around Rs 1,274.75 on the BSE, reflecting a decrease of approximately 2 per cent.