Major pharmaceutical company Dr. Reddy’s Laboratories has informed the Delhi High Court of its decision to change the brand name of its semaglutide drug from ‘Olymviq’ to ‘Olymra’. This move comes in response to concerns raised by the court regarding potential confusion in the pharmaceutical sector due to the similarity between the names ‘Olymviq’ and ‘Ozempic’, a popular diabetes and weight management drug.
As India embraces generic versions of semaglutide post-patent expiry, competition among drug manufacturers has intensified, leading to branding disputes. Dr. Reddy’s Laboratories highlighted that it is the first Indian company to secure approval from the Drugs Controller General of India for a generic semaglutide product. The ongoing legal issue revolves around the perceived likeness between ‘Olymviq’ and ‘Ozempic’, as reported by NDTV Profit.
The company had previously announced the launch of its injectable semaglutide under the brand name ‘Obeda’, a significant move aimed at enhancing access to GLP-1 receptor agonist-based therapy for managing Type 2 diabetes in India. Erez Israeli, the Chief Executive Officer of Dr. Reddy’s Laboratories, emphasized the goal of broadening the availability of advanced diabetes treatments and catering to unmet patient requirements in the country.
During the court proceedings, concerns were raised regarding the phonetic and visual resemblance between ‘Olymviq’ and ‘Ozempic’, with the court noting the potential for confusion among patients, healthcare professionals, and pharmacists. Previously, the court had instructed the company to cease the distribution and sale of the product due to concerns about its similarity to Novo Nordisk’s “Ozempic”. Novo Nordisk markets semaglutide under various brands, including Ozempic, Wegovy, and Rybelsus.
Shares of Dr. Reddy’s Laboratories experienced a decline of around 2% to Rs 1,274.75, reaching an intraday low on the BSE as of 2 p.m.
