Indian pharmaceutical companies are preparing to flood the market with generic versions of Novo Nordisk’s semaglutide—sold under the brand names Ozempic and Wegovy—as key patents begin to expire in 2026. The move could reshape access to weight-loss and diabetes treatments across emerging markets and ignite a multi-billion-dollar generics boom.
Novo Nordisk’s semaglutide franchise generated $17 billion from Ozempic and $8.4 billion from Wegovy in 2024 alone.
Patents for semaglutide are set to lapse in over 100 countries, including India, Canada (January 2026), and Brazil (March 2026), opening the door for copycat drugs. Industry executives say the opportunity is “massive,” with demand expected to surge as prices fall. To be sure, the most lucrative US and Western European markets are still a few years away from semaglutide patent cliff, but even emerging markets where obesity and diabetes is a major disease burden, will still open up a significant opportunity.
Bengaluru-based OneSource Specialty Pharma is investing $100 million to scale up production, anticipating a revenue jump to $400 million within three years. “Semaglutide will be a big part of it,” said CEO Neeraj Sharma, citing growing demand driven by broader access.
Major players including Dr. Reddy’s, Biocon, Sun Pharma, Cipla, Lupin, and Aurobindo Pharma are positioning themselves to capitalise. Dr. Reddy’s CFO MV Narasimham said the company is ready for a “high-volume, low-cost” market and has end-to-end capabilities.
Dr. Reddy’s, which has been developing semaglutide for over a decade, is preparing for a global rollout, including injectable and oral formulations. The company is leveraging both in-house production and contract manufacturing, with plans to market Ozempic, Wegovy, and Rybelsus generics
Biocon Chairperson Kiran Mazumdar-Shaw called the opportunity “very huge,” noting the company’s unique portfolio of GLP-1s and insulins. Biocon has already launched oral GLP-1 diabetes drug Liraglutide in UK.
Zydus Lifesciences is investing over Rs 100 crore ($12 million) in a new manufacturing facility using proprietary technology to produce cost-effective semaglutide 3.
Hyderabad-based Divi’s Laboratories, which supplies semaglutide components, reported strong growth in its peptide business amid rising global demand.
Legal and manufacturing hurdles
Yet legal hurdles loom. Novo Nordisk has said that it will fiercely protect is intellectual property rights over the drug. In May, the Danish drugmaker sued Dr. Reddy’s in Delhi High Court to block selling and exporting its generic version.
The stakes are high. Semaglutide can cost up to $16,000 annually in the U.S., while generics could be produced for under $6 a month. But manufacturing is complex. GLP-1s are peptides, requiring sterile injectable production, specialised facilities, and integration with delivery devices like injector pens—components currently in short supply.
The global GLP-1 market is projected to exceed $100 billion by 2030.
Companies must navigate a capital-intensive supply chain, from active pharmaceutical ingredients to cartridge filling and sterile packaging. “It’s a complete end-to-end supply,” Sharma said, underscoring the scale and sophistication needed to meet global demand.
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