We recently compiled a list of the 10 Best Cancer Stocks to Buy for the Long Term. Dr. Reddy’s Laboratories Limited (NYSE:RDY) is one of the best cancer stocks on our list.
TheFly reported on April 23 that Goldman Sachs lowered its rating on RDY from Neutral to Sell and reduced the price target from INR 1,225 to INR 1,075, citing concerns that the company’s generic Ozempic prospects in Canada may be weaker and more short-term than previously expected due to rising competition. The firm also noted that RDY’s pipeline for high-value drugs remains limited.
Moreover, on April 29, Dr. Reddy’s Laboratories Limited (NYSE:RDY) announced that it had secured regulatory clearance from Health Canada for its generic semaglutide injection, marking a significant step for the company in the Canadian market. The approval makes RDY’s the first drugmaker to obtain authorization to market a generic version of semaglutide in Canada before Health Canada’s expected review timeline.
The authorization includes both the 2 mg/pen and 4 mg/pen versions of the treatment. The company stated that commercial launch activities are already in progress, positioning it to expand access to the medication for patients across Canada. The development also strengthens RDY’s presence in the growing market for diabetes and weight management treatments.
Dr. Reddy’s Laboratories Limited (NYSE:RDY) is a global pharmaceutical company based in Hyderabad. Founded in 1984, it develops and manufactures generics, APIs, biosimilars, and branded medicines, with a strong presence in oncology, cardiovascular care, and emerging markets.
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