Natco Pharma Ltd's board approved a comprehensive scheme of arrangement on March 24, 2026, to demerge its agrochemicals business into wholly-owned subsidiary Natco Crop Health Sciences Ltd. The appointed date for the scheme is October 1, 2026, with shareholders set to receive shares in the resulting company in a 1:1 ratio. Under the arrangement, the agrochemicals undertaking will be transferred to Natco Crop Health Sciences Ltd on a going concern basis, with the resulting company issuing one fully paid-up equity share of ₹2 each for every one fully paid-up equity share of ₹2 held in Natco Pharma. The scheme is subject to approvals from shareholders, creditors and the National Company Law Tribunal, with the resulting company expected to apply for listing on stock exchanges following implementation.
Natco Pharma has heralded what could become an intense pricing war in India's pharmaceutical sector by offering its version of generic semaglutide that's 90% cheaper than the original weight-loss drug. The Hyderabad-based drugmaker has priced its semaglutide injection starting at ₹1,290 per month in vial dosage form, positioning itself as the most affordable GLP-1 therapy currently available in the Indian market. According to ET Now, Natco is the first company to offer generic semaglutide in multi-dose vials with customized syringes, making it approximately 70% cheaper in cost than the pen device and 90% cheaper than the price of the innovator's brand. The company will launch its semaglutide brands on Saturday, a day after innovator Novo Nordisk loses patent protection in India.
At least seven major drugmakers announced the launch of their generic versions of semaglutide on Saturday, the first day after the patent on semaglutide expired on March 20, 2026. According to The Hindu BusinessLine, Sun Pharmaceuticals, Zydus Lifesciences and Alkem announced a total of eight separate branded generic versions of semaglutide for obesity and diabetes indications. The multi-dose vials will be launched at a market price of ₹1,290 per month for 2 mg/1.5ml and 4mg/3ml and at an MRP of ₹1,750 for 8mg/3ml, with pen devices expected to be launched in April priced at ₹4,000, ₹4,200, and ₹4,500 per month for respective strengths. As reported by ET Now, Eris Lifesciences, which has a partnership with Natco to sell generic semaglutide, said its brand Sundae will be priced at the same rate for the starting dose. The launch was made possible through a partnership with Eris Lifesciences and recent approval from the Central Drugs Standard Control Organisation (CDSCO) in February 2026.
Natco Pharma currently operates two business verticals: pharmaceuticals and agrochemicals. The agrochemicals division, which generated a turnover of ₹60.62 crore as of March 31, 2025, accounting for 1.48% of the company's total turnover, will be transferred to the wholly-owned subsidiary. Following the demerger, shareholders of Natco Pharma will directly hold about 80% in the resulting company in proportion to their shareholding in the demerged company, while the remaining 20% stake will be held by Natco Pharma. The company will seek no-objection letters from the National Stock Exchange of India and BSE Ltd, with the scheme subject to approvals from shareholders, creditors and the National Company Law Tribunal. Additionally, the board approved the incorporation of a wholly-owned subsidiary in Nigeria named Natco Pharma Nigeria Ltd with an investment not exceeding $100,000 in cash, and approved the liquidation of its Australian subsidiary Natco Pharma Australia Pty Ltd.
The entry of Natco's ₹1,290 per month vial signals a significant shift in affordability as multiple Indian companies including Natco Pharma, Glenmark Pharmaceuticals, Dr. Reddy's Laboratories, Zydus Lifesciences, Sun Pharmaceutical Industries, Alkem Laboratories and Torrent Pharmaceuticals have already launched their versions of the drug. According to ET Now, these generic options are being offered at prices that are 40 per cent to 85 per cent lower than the original product, significantly improving accessibility. The price variation across offerings is notable, with entry-level monthly treatments now available for roughly ₹1,300 to ₹2,200, while some advanced or premium formats are priced between ₹3,600 and ₹4,200. Novo Nordisk's drugs – Ozempic and Wegovy – are sold in pen devices and priced at ₹8,800 and ₹10,850, respectively, per month for the starting doses. The GLP-1 market in India, which includes semaglutide brands as well tirzepatide (Mounjaro/Yurpeak), has grown to over ₹1,400 crore in just a year of the brands being launched in the country, with CareEdge Ratings estimating the market will grow fivefold in the next five years.
According to ET Now, Natco is the first company to offer Semaglutide in the vial dosage form, making it the most affordable GLP-1 therapy currently available in the Indian market. The company emphasizes that this will increase patient accessibility to GLP-1 therapy and help in long-term compliance for patients. As reported by ET Now, companies are differentiating themselves through product formats and positioning, with Torrent Pharmaceuticals introducing an oral version, Alkem Laboratories targeting the value segment with a pen device priced near ₹1,800, Sun Pharmaceutical Industries focusing on premium offerings with multiple dosage options and added patient support services, while Zydus Lifesciences and Glenmark Pharmaceuticals are aiming at the mid and mass segments with competitively priced options. The company highlighted that it is the first to offer generic Semaglutide in multi-dose vials with customised syringes, with the multi-dose vial format priced around 70% lower than pen devices and nearly 90% cheaper than the innovator product, making it approximately 70% cheaper in cost than the pen device and 90% cheaper than the price of the innovator's brand.
