Novo Nordisk's stock price rose by 3.79%. An executive from Hetero Labs, one of India's major private pharmaceutical companies, stated that the firm plans to launch generic versions of weight-loss and diabetes medications in over 75 countries within the coming years, with a first-year sales target of 1.5 million injection pens.

The Hyderabad-based pharmaceutical company introduced its semaglutide injections last month under the brand names Truglyx, Rolmodl, and Moto G, with plans to export to parts of Africa, Asia, and the Middle East.

Semaglutide is the active ingredient in Novo Nordisk's weight-loss drug Wegovy and diabetes treatment Ozempic. The patent for this drug expired in India in March of this year, granting market access to at least a dozen domestic pharmaceutical firms, some of which have launched products with discounts of up to 70%.

Vamsi Krishna Bandi, Managing Director of Hetero, mentioned in a March interview with Reuters that the company plans to launch the drug domestically in India in April, with an initial focus on expanding its overseas market share.

Analysts predict that the global obesity drug market could reach approximately $100 billion by 2030.

Bandi stated, "We are typically not the first movers in the market, but once we enter, we compete with superior supply efficiency." He added that a pricing range of $40 to $60 per month is "ideal," particularly suited to the demands of emerging markets.

Hetero, known for its low-cost anti-HIV drugs, will initially target smaller to mid-sized markets such as Kenya, Uganda, Cambodia, and Vietnam, before expanding to larger markets like Indonesia, Saudi Arabia, and North Africa.

The company also plans to enter Canada's generic weight-loss drug market once it receives regulatory approval.

Bandi noted, "Canada is an important market, but there are regulatory challenges. We expect to gain market access within the next 12 to 18 months."

Hetero's larger competitor, Dr. Reddy's Laboratories, has announced a first-year sales target of 12 million pens, while smaller to mid-sized firms like MSN Laboratories aim to sell 100,000 pens domestically in India in their first year.