India, Jan. 22 -- Dr Reddy's Laboratories Ltd. is planning to launch a generic version of Ozempic in March after Novo Nordisk AS's patent for the drug expires. That would make the Indian drugmaker one of the first firms to capture the gold rush for the weight-loss drug in the diabetes capital of the world.

The Hyderabad-based pharma company will sell the generic Ozempic at "competitive pricing" to ensure affordability, M.V. Ramana, its chief executive for Branded Markets, told reporters on Wednesday. The pricing will also depend on how peers price their product.

"This would be a major opportunity," Ramana said.

Dr Reddy's launch of generic Ozempic, used to treat Type-2 Diabetes, marks the onset of an influx of global competition that N...