OneSource and Hikma Secure Saudi Approval for Generic Ozempic

OneSource Speciality Pharma, in collaboration with Hikma, has secured the Saudi Food and Drug Authority's approval for a generic variant of the diabetes and weight reduction drug Ozempic. The strategic partnership aims to commercialize this product across the Middle East and North Africa (MENA) region, leveraging the strengths of both companies.

Under an exclusive agreement, OneSource will manufacture semaglutide at its Bengaluru facility. Hikma, the largest pharmaceutical distributor in the MENA region by sales, will channel the product through its extensive networks across both private and institutional sectors, broadening the medication's access significantly.

Neeraj Sharma, CEO and MD of OneSource, highlighted the importance of Saudi Arabia as a major market for GLP-1 drugs, citing vast potential for growth. Despite this positive development, OneSource's stock price closed 0.02% lower at ₹1,192.80 on the BSE, reflecting a lukewarm investor response.