Sun Pharmaceutical Industries Limited on Wednesday announced that it has received approval from the South African Health Products Regulatory Authority (SAHPRA) to manufacture and market a generic version of semaglutide injection in South Africa for the treatment of adults with inadequately controlled type 2 diabetes mellitus as an adjunct to diet and exercise.
Sun Pharma plans to launch the product in the market in the coming days. It will be available as a pre-filled, multi-dose injectable pen in two strengths (2 mg/1.5 mL and 4 mg/3 mL) that allow flexible, once-weekly dosing.
"South Africa is the second market after India where Sun Pharma has received approval for generic semaglutide. This reflects our ability to develop complex generic medicines that meet the stringent quality standards across different markets. We remain committed to improving access to generics and making evidence-based treatment options available to patients and healthcare professionals," said Aalok Shanghvi, Chief Operating Officer, Sun Pharma.
The pharmaceutical company in a statement said that South Africa faces a growing burden of type 2 diabetes, driven in part by rapid urbanisation and changing lifestyles and this rising prevalence places significant pressure on patients and healthcare services. Improving access to effective therapies is therefore an important component of addressing this national health challenge, added the statement.
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Sun Pharmaceutical Industries Ltd. Share Price Today
Shares of Sun Pharmaceutical Industries Ltd. rose marginally 0.64% on Wednesday with the stock trading Rs 1,950 apiece at 9:25 am. The stock has risen 12.86% in the last 12 months and 13.34% year-to-date. Total traded volume so far in the day stood at 2.21 times its 30-day average. The relative strength index was at 61.54.
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