Dr. Reddy’s ADR Falls 9.7% on Canadian Regulatory Hurdle for Semaglutide

Dr. Reddy’s Laboratories ADR dropped 9.69% to $13.19 in New York after the company received a Notice of Non-Compliance (NON) from Canada’s Pharmaceutical Drugs Directorate regarding its generic Semaglutide Injection—a key drug for diabetes and weight management. The notice, related to its Abbreviated New Drug Submission, seeks additional data and clarifications. The Hyderabad-based firm said it will respond promptly within the stipulated time and remains confident in the quality and safety of its product. Semaglutide, the active ingredient in blockbuster drugs like Ozempic and Wegovy, is in high global demand, making timely approvals critical for generic players. This delay could postpone Dr. Reddy’s entry into Canada’s lucrative weight-loss market. The company reaffirmed its commitment to bringing the therapy to patients soon and promised updates as developments unfold.