Broker’s call: Dr Reddy’s Lab (Add)

We interacted with Dr Reddy’s Lab Head of IR, Aishwarya Sitharam, following the company’s successful day-1 launch of Semaglutide. Dr Reddy’s Lab is the first to introduce a DCGI-approved version in India under the brand name Obeda, establishing an early-mover advantage in the domestic GLP-1 market. Semaglutide is a complex peptide product and not a simple smallmolecule generic and hence requires advanced manufacturing capabilities and sterile production expertise. The company’s premium pricing a...