Indian drugmaker Dr Reddy's up after court ruling paves way for semaglutide exports

Dr. Reddy's Laboratories

10/03/2026 05:59

** Shares of Indian drugmaker Dr Reddy's Laboratories REDY.NS rise 2.4% to one-month high of 1,317.80 rupees

** Delhi High Court on Monday upheld order permitting co to manufacture generic semaglutide in India for export to countries where Novo Nordisk NOVOb.CO doesn't hold a patent, according to media reports

** The compound is the active ingredient in Novo's diabetes drug Ozempic and weight-loss drug Wegovy

** Patent protection for semaglutide expires in India in March 2026

** REDY likely to launch its product in India in March under the brand name Obeda, Reuters reported last month

** Analysts rate the stock "hold" on average, with the PT of 1,297.50 rupees

** YTD, REDY up 3.6% vs sub index Nifty Pharma's .NIPHARM 2% rise

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com))