Ajanta Pharma said it has signed an in-licensing agreement with Biocon to market semaglutide, a GLP-1 receptor agonist, across 26 countries spanning Africa, the Middle East and Central Asia, as Indian drugmakers sharpen their focus on complex diabetes therapies in emerging markets.
Under the agreement, Biocon will supply semaglutide to Ajanta for exclusive marketing in 23 countries and semi-exclusive marketing in three countries, the company said in a regulatory filing.
Launch planned post patent expiry, approvals awaited
Semaglutide is used to improve glycaemic control in adults. The product patent is set to expire in most of the target markets in March 2026, clearing the way for branded generic launches.
Ajanta said it plans to commercialise the drug after receiving regulatory approvals, which are expected in late 2026 or early 2027.
Ajanta bets on branded generics playbook
The Mumbai-based drugmaker has built a strong branded generics business with its own field force across more than 30 countries, particularly in Africa, South-East Asia, Central Asia and the Middle East.
The company operates across multiple therapeutic segments, including cardiology, anti-diabetic, ophthalmology and general health, and currently markets over 220 brands in emerging markets, supported by a field force of more than 2,000 medical representatives, according to the company.
Management commentary
“GLP-1 therapies have seen rapid global acceptance and have emerged as blockbuster products worldwide,” Yogesh Agrawal, managing director of Ajanta Pharma, said, adding that the company aims to scale semaglutide into a high-growth brand in markets where it has a strong on-ground presence.
Biocon chief executive Siddharth Mittal said the partnership would help expand the global footprint of Biocon’s GLP-1 portfolio and improve access to semaglutide in emerging markets through Ajanta’s commercial reach.
Financial snapshot
For FY25, Ajanta Pharma reported revenue of Rs 4,648 crore, EBITDA of Rs 1,260 crore and profit after tax of Rs 920 crore, with a three-year revenue CAGR of 11% and PAT CAGR of 25%, the company said.
Ajanta Pharma share price
Ajanta Pharma’s share price has jumped nearly 4% in early trade. The stock is up over 10.43% in the last 1 month. However, it is down over 7.58 % in 2025 so far.