Waters (WAT) has seen an increase in demand from drugmakers in India as they accelerate efforts to develop generic versions of weight-loss drugs such as Novo Nordisk's (NVO) Wegovy and Ozempic, ahead of semaglutide's patent expiration in India next year, Reuters reported Thursday, citing a senior executive.
Indian drugmakers such as Biocon, Cipla, Dr. Reddy's, and Lupin are racing to develop generic versions of these drugs to grab a share of the projected $150 billion global market, the report said.
Waters expects double-digit revenue growth in India, contributing 70-100 basis points to annual growth, with GLP-1 drug testing alone adding 30 basis points in the near term, the report said.
Waters did not immediately respond to MT Newswires' request for comment.
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