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Dr Reddy’s semaglutide approval delayed in Canada, hurting shares and risking $100M in revenue.
Dr Reddy’s Laboratories shares dropped 4-6% on the BSE and over 8% on the NYSE after Canada’s health regulators issued a Notice of Non-Compliance for its semaglutide injection submission, requesting additional information and delaying approval.
The setback, linked to the company’s efforts to launch a generic version of Novo Nordisk’s Wegovy and Ozempic, may push the launch in Canada to late 2026, potentially costing up to $100 million in expected revenue.
The company affirmed confidence in its product’s quality and pledged a timely response.
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La aprobación de semaglutida del Dr. Reddy se retrasó en Canadá, perjudicando las acciones y arriesgando 100 millones de dólares en ingresos.