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.”| Product Name | Brand Name |
|---|---|
| Semaglutide | Obeda |
| Semaglutide | Olymviq |
| Semaglutide | Olymra |
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.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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