India's Dr Reddy's on course for second straight day of losses on semaglutide shipping disruption

Dr. Reddy's Laboratories

10/07/2026 04:57

** India's Dr Reddy's Laboratories REDY.NS down 2.6% to 1,228.6 rupees
** Stock on course for second straight day of losses, if trend holds
** Co reported on Thursday that supplies of generic semaglutide would remain unavailable in India and face disruptions in Canada due to impurities in active pharmaceutical ingredient, until late October at least
** Systematix downgrades REDY to "hold", believes execution risk remains, with possibility of further delays, if validation process takes longer than expected
** Emkay Global ("reduce", PT 1,300 rupees) cuts FY27 earnings estimates by 7% as prior margin assumptions "now seem out of reach"
** REDY rated "hold" on avg by 38 analysts; median PT is 1300 rupees - data compiled by LSEG
** Torrent Pharmaceuticals TORP.NS, which sources finished semaglutide doses from REDY, down 2.3%
** REDY down 3.4% YTD
     

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))