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Dr Reddy's shares crash 9% in 2 days; brokerages slash target prices after semaglutide supply disruption. What lies ahead?
Dr Reddy's Laboratories shares extended their decline after the company delayed commercial supplies of its semaglutide product due to a quality-related API issue. While brokerages remain broadly positive on the long-term outlook, several have cut target prices and earnings estimates, citing near-term execution risks and slower product ramp-up.
Dr Reddy’s pauses weight loss drug on quality fears
Dr Reddy's Laboratories will halt semaglutide injection supplies until at least October. Unspecified impurities were identified during the active pharmaceutical ingredient manufacturing scale-up. The company assures that already supplied market products remain safe for patient use. Torrent Pharmaceuticals and USV Ltd are recalling some semaglutide batches sourced from Dr Reddy's. Commercial supplies are expected to resume after the issue is resolved and validation is complete.
Torrent recalls select Semalix diabetes injection pens after Dr Reddy's flags quality issue
The recall affects only select 2 mg and 4 mg Semalix injection pens manufactured by Dr Reddy's Laboratories, while all other semaglutide products remain unaffected.
Torrent Pharma recalls select batches of Semalix injection after Dr. Reddy's notice
Torrent Pharmaceuticals is voluntarily recalling select batches of its Semalix semaglutide injection pens. This action follows a product recall notification from its manufacturer, Dr. Reddy's Laboratories. Patient safety remains of paramount importance to the company during this process. There is no risk to patients currently using this specific treatment. All other Semaglutide products sold by Torrent remain unaffected.
Dr Reddy's Lab drops after quality issue delays semaglutide supplies
Dr Reddy's Laboratories tumbled 6.29% to Rs 1,263.90 after the company said commercial supplies of certain batches of its semaglutide product will be delayed following a quality-related issue involving the active pharmaceutical ingredient (API).
Dr Reddy's flags quality issue in semaglutide batches, delays commercial supplies
Dr Reddy's Laboratories has announced a setback in the distribution of their semaglutide products attributed to out-of-specification batches associated with an active ingredient concern. The firm is actively investigating to identify the source of the problem and is implementing corrective strategies.
Dr. Reddy's Laboratories shares fall 3% on semaglutide batch concerns, supply delay
Dr. Reddy's also warned that until the issue is resolved, commercial supplies of the product will be delayed for a certain period of time, while also clarifying that there is no impact on patient safety or on the product's existing global regulatory filings.
Dr Reddys Share Price Live Updates: Dr. Reddy's Laboratories achieves notable returns
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Generics must not be imperiled over data protection: Satish Reddy, Chairman, Dr Reddy's Laboratories
Dr Reddy's chairman, Satish Reddy, has raised concerns about compromising India's competitive edge in generics for foreign investments. He stresses the importance of aligning capital with developmental needs and enhancing collaboration between academia and industry. Advocating for a national mission akin to China's, he highlights the necessity of structured government procurement to stimulate drug innovation and underscores AI's transformative role in drug discovery, contingent on adaptive regulatory systems.
