Dr Reddy’s Share Price Falls 6%, Hits 5-Month Low After Canada Regulator Raises Queries on Semaglutide Injection

Dr Reddy’s Laboratories share price (NSE: DRREDDY) fell nearly 6% to ₹1,181.60, hitting a 5-month low on Thursday after the company received a Notice of Non-Compliance (NON) from Canada’s Pharmaceutical Drugs Directorate. Over the past 2 sessions, the stock has declined 8.4%, now trading at its lowest since May 2025.

Reason Behind the Decline

The Canadian regulator issued a Notice of Non-Compliance regarding Dr Reddy’s Abbreviated New Drug Submission (ANDS) for its Semaglutide Injection, a proposed generic version of Ozempic.

The NON requests additional details and clarifications about specific aspects of the submission before it can proceed. Dr Reddy’s stated it will respond promptly within the given timeline, assuring confidence in the quality, safety, and comparability of its product.

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Dr Reddy’s Laboratories Ltd

Dr Reddy’s Laboratories Ltd. is a global pharmaceutical company headquartered in Hyderabad, India, with its U.S. office located in East Brunswick, New Jersey. It was established by Dr Kallam Anji Reddy, who had earlier worked with the Indian Drugs and Pharmaceuticals Limited (IDPL), a government-run enterprise.

Conclusion

Dr Reddy’s stock is under pressure as regulatory hurdles in Canada delay its Semaglutide launch, a key growth driver. While the company remains confident about resolving the issue, the delay could impact its near-term earnings from this product line.

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