| P/E TTM | 40.96Sector: 37.88 |
|---|---|
| Market Cap | ₹1,14,684 CrPharmaceuticals |
| Quarterly Profit | ₹924.8 CrUp 108% QoQ |
| 1-Year Change | 14.88%Stock Performance |
Key highlights
- ANVISA authorizes generic semaglutide for adults with insufficiently controlled type 2 diabetes
- Brazil represents the world's sixth-largest diabetes patient population with 16.6 million adults
- Product to be launched as a once-weekly injectable pen in 2 mg/1.5 mL and 4 mg/3 mL versions
- The semaglutide market for diabetes in Brazil is estimated at approximately $244.6 million
- Commercial launch in Brazil will be conducted in partnership with pharmaceutical firm Aché
Strategic Entry into the Brazilian Diabetes Market
Dr. Reddy's Laboratories has obtained regulatory clearance from Brazil’s National Health Surveillance Agency (ANVISA) to market its generic semaglutide injection. This approval authorizes the product for use in adults with insufficiently controlled type 2 diabetes mellitus, serving as an adjunct to diet and exercise.
The generic injectable will be commercialized as a pre-filled, multi-dose pen in two specific presentations: 2 mg/1.5 mL and 4 mg/3 mL. This once-weekly dosing regimen follows the company's broader strategy to enhance global access to GLP-1 agonists, particularly in high-burden regions where the patient need for affordable treatment options is significant.
The $244.6 Million Market Opportunity
- Brazil ranks sixth globally in the total number of adults living with diabetes
- An estimated 16.6 million adults aged 20–79 live with the condition in Brazil
- The specific semaglutide market for diabetes in the country is valued at $244.6 million
- Generic version serves as monotherapy or adjunct to other medicinal products
- Commercialization will be handled through a planned launch with partner Aché
Management on Expanding Global Access
This approval builds on our broader semaglutide strategy and brings us another step closer to making semaglutide available to more patients. We plan to launch semaglutide in Brazil with Aché.
Global GLP-1 and Biosimilar Pipeline Momentum
The Brazilian approval follows several key regulatory milestones for Dr. Reddy's in 2026. The company launched India’s first generic semaglutide under the brand Obeda in March 2026 and secured Health Canada approval in April 2026.
Beyond diabetes, the firm received tentative US FDA approval for generic lenacapavir in November 2026 and DCGI approval for Zytorvi in October 2026. While the September 2026 quarter net profit of ₹924.8 crore showed a 31.4% year-on-year decline, operating revenue grew 7.4% sequentially to ₹8,697.8 crore, supported by a pipeline of 80 drug filings pending US FDA approval.
| Date | Announcement | Amount |
|---|---|---|
| 02 Nov 2026 | Received US FDA tentative approval under PEPFAR for generic injectable lenacapavir for HIV preventionSource: thehindu.com | – |
| 21 Oct 2026 | Received DCGI approval for Zytorvi (toripalimab) for advanced esophageal squamous cell carcinomaSource: NSE filing | – |
| 01 Aug 2026 | Received US FDA approval for rituximab biosimilar (commercialized with Fresenius Kabi in the US)Source: bigmoleculewatch.com | – |
| 29 Apr 2026 | Received Health Canada Notice of Compliance (approval) for generic Semaglutide InjectionSource: NSE filing | – |
| 21 Mar 2026 | Received DCGI approval and launched India's first generic semaglutide injection under brand ObedaSource: sec.gov | – |
| 04 Aug 2025 | Received US FDA tentative approval for generic Lumateperone capsulesSource: api.drreddys.com | – |
What to watch next
- US FDA PDUFA goal decision for interchangeable biosimilar Abatacept on December 22, 2026
- Updates on 80 drug filings pending approval with the US FDA as of late 2026
- Management execution toward maintaining FY27 EBITDA margins above 20%
“Our focus with semaglutide is to expand access to this treatment option across markets where the patient need is significant. Brazil, with its substantial burden of diabetes, is an important part of that journey.”
| Share price | ₹1374 |
|---|---|
| Market capitalisation | ₹1.15L Cr |
| Revenue (annual) | ₹33,700.20 Cr |
| Net profit (annual) | ₹4,196.00 Cr |
| Revenue (latest quarter) | ₹8,697.80 Cr+7.38% vs previous quarter |
| Net profit (latest quarter) | ₹924.80 Cr+108.15% vs previous quarter |
| P/E (TTM) | 40.96×Sector 37.88× |
| Promoter holding | 26.63%-0.01% QoQ |
| FII holding | 20.3%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Dr. Reddy's Laboratories announcing ANVISA marketing authorization for generic semaglutide in Brazil. Market figures from a third-party data provider.
