Indian Pharma Firms Race for $25 Billion Semaglutide Market Patent Expiry Nears

Indian pharmaceutical giants like Dr Reddy's Laboratories, Zydus Lifesciences, and MSN Labs are racing to produce generic versions of the blockbuster weight-loss drug semaglutide as the first patent for the medication expires in March 2026.

Semaglutide, marketed as Wegovy and Ozempic by Novo Nordisk, generated $25.4 billion in global sales in 2024, with Wegovy contributing $8.4 billion and Ozempic $17 billion. The patent expiry opens up 80 new markets, including India, Canada, and Brazil, creating a lucrative opportunity for Indian manufacturers.

Zydus Lifesciences is investing over ₹100 crore to build a cost-effective manufacturing facility. Dr Reddy's, which has been working on semaglutide for over a decade, plans to expand globally with its injectable formulations and oral alternatives like Rybelsus.

The Indian weight-loss drug market grew 4x in five years, reaching ₹576 crore in 2024. Companies like Sun Pharma, Biocon, and Cipla are also entering the race, while over 12 mid-sized firms are advancing their research and production plans.

With the growing demand for obesity treatments, the semaglutide boom is set to reshape the global pharmaceutical landscape.