Dr Reddy’s shares dropped about 2% after Goldman Sachs downgraded the stock and Citigroup turned cautious. Brokerages pointed to limited growth visibility, pipeline concerns, and valuation risks, alongside generics pricing pressure. Citi also flagged muted near-term opportunities in semaglutide, prompting analysts to warn that downside risks may persist despite earlier optimism.
Dr Reddy’s has received regulatory approval in India to roll out its generic oral semaglutide. The approval follows a head to head comparative study in India that found the formulation non inferior to Novo Nordisk’s Rybelsus. The company says this clinical evidence helped it secure approval under India’s biosimilar regulatory pathway.
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