AMN
Shares of Dr Reddy’s Laboratories SLUMPED nearly 7% in Thursday’s trade (July 9) on the NSE after the drugmaker said commercial supplies of its semaglutide product would be delayed due to an active pharmaceutical ingredient (API)-related quality issue.
Dr Reddy’s Laboratories said that it is delaying commercial supplies of semaglutide due to an issue related to the active pharmaceutical ingredient used in the drug, sending its shares down nearly 7 %.
Semaglutide is the key ingredient in Novo Nordisk’s blockbuster diabetes and obesity medicines. Dr Reddy’s has also launched its semaglutide injection, Obeda, in India to treat diabetes.
The Indian drugmaker said that certain batches of semaglutide were found to be out of specification and that it is investigating the root cause and taking measures to ensure product quality.
“There is no impact on patient safety or on the product’s existing global regulatory filings,” Dr Reddy’s said in a statement.
Dr Reddy’s did not specify until when the supply issues would last and did not disclose further details.