Torrent Pharmaceuticals plans to launch semaglutide in Brazil over the next six to nine months, as the drugmaker seeks to expand its presence in a market where revenues grew 38 per cent in the September quarter, Managing Director Aman Mehta said.
Semaglutide is a GLP-1 receptor agonist used to treat Type 2 diabetes and, in certain formulations, obesity. Torrent has launched the drug only in India so far and is now looking to expand into Brazil, where a large local player’s entry into the generic semaglutide market has accelerated growth over the past three months, Mehta said. “Optimistically, we expect to launch in the next 6-9 months,” he told investors on a recent earnings call.
Torrent’s Brazil revenues stood at ₹440 crore in the second quarter of FY27, up 38 per cent year-on-year. In constant currency terms, revenues rose 20 per cent to 236 million Brazilian reais. The company grew 26 per cent during the quarter against market growth of 6 per cent, according to IQVIA, aided by the performance of its leading brands and new launches. Torrent has 53 products under review with Brazil’s health regulator, ANVISA.
For the first half of FY27, Brazil revenues rose 34 per cent to ₹717 crore, while constant-currency revenue increased 13 per cent to 383 million Brazilian reais. “Brazil will continue to grow in double digits in the mid-teens range because we have strong momentum from our new launches as well as from other businesses,” Mehta said. Torrent operates four business units in Brazil — cardiovascular and diabetes, central nervous system (CNS), generics and non-retail — and all four are performing well, he said.
In India, the company is working to regain market share in injectable semaglutide after a supply disruption that kept it out of the market for nearly two months. Torrent onboarded a new manufacturing partner and restored supplies by September. “On semaglutide, our India franchise recorded Q2 market share of 32 per cent for oral and injectable combined as per the Pharmatrac data set. For the oral segment, we continue to maintain more than 90% share within the generic players,” Mehta said.
He added that the supply disruption had caused some loss of market share in injectables, but the September relaunch and subsequent sales recovery gave the company confidence that it would recover much of the loss in the coming months. Torrent had estimated the Indian generic semaglutide market at around ₹800 crore in its first year and believes it remains on track to reach that level. Mehta said the market could see rapid growth in its first couple of years before stabilising in the third or fourth year, although it was too early to estimate its size over the next four to five years.
The company expects pricing per patient and per product to remain broadly stable, as it sells semaglutide as a branded business. Prices could remain stable or gradually increase over the next couple of years, Mehta said. On its medical representative workforce, Torrent does not expect any change from the current count of around 9,100 this year. The company will review potential expansion in the coming months, with the number possibly rising to 9,500-9,600 next year, depending on business requirements.
In Germany, Torrent continues to face challenges from supply-related issues and government-mandated price reductions, which have weighed on its non-retail business. Mehta expects a slight decline over the coming quarters, with stability likely to emerge after three to four quarters.
Published on October 25, 2026
