Ajanta Pharma Ltd, a specialty-focused pharmaceutical formulations company, has announced the signing of an in-licensing agreement with Biocon Ltd for Semaglutide, a GLP-1 receptor agonist used in the management of diabetes. As per the agreement, Biocon will manufacture and supply Semaglutide to Ajanta Pharma, which will have exclusive marketing rights in 23 countries and semi-exclusive rights in an additional 3 countries spanning Africa, the Middle East, and Central Asia.
Semaglutide is indicated for improving glycaemic control in adults, and the product patent is scheduled to expire in most of these markets in March 2026. Ajanta plans to introduce the product in these territories following the receipt of necessary regulatory approvals, which are anticipated toward the end of 2026 or in early 2027.
Ajanta Pharma has been among the early Indian pharmaceutical companies to establish a strong branded generics presence supported by its own field force across more than 30 countries in Africa, South-East Asia, Central Asia, and the Middle East. The Company operates across multiple therapeutic areas including cardiology, diabetes care, ophthalmology, antibiotics, antimalarials, pain management, gynaecology, paediatrics, and general health.
Over the years, Ajanta has expanded its footprint through portfolio diversification, steady growth in its medical representative network, and the creation of leadership brands across several therapy segments. Currently, the Company markets over 220 brands in emerging markets, many of which hold leading positions in their respective categories. These brands are promoted by a field force of over 2,000 medical representatives and are widely recognized within the international medical community.
A key differentiator for Ajanta has been its capability to identify unmet needs, secure regulatory clearances, and introduce differentiated products that evolve into scalable and sustainable brands. The Company also maintains a strong pipeline of products under regulatory review, which is expected to further reinforce its position across core therapeutic areas.
Commenting on the partnership, Yogesh Agrawal, Managing Director, Ajanta Pharma Ltd, said “GLP-1 based therapies have witnessed strong global adoption and are among the fastest-growing segments in diabetes care. We are pleased to collaborate with Biocon for Semaglutide and extend this important therapy to markets where Ajanta has a deep commercial presence. We believe Semaglutide has the potential to become a significant growth driver across these regions.”
Sharing his views on the collaboration, Siddharth Mittal, Chief Executive Officer and Managing Director, Biocon Ltd, stated “Partnering with Ajanta Pharma aligns with our strategy to broaden the global reach of Biocon’s GLP-1 portfolio and derive greater value from our investments in complex peptide development. Semaglutide is a meaningful advancement in diabetes treatment, and Ajanta’s established presence across Africa, the Middle East, and Central Asia offers an effective route to accelerate patient access. This collaboration will help improve affordability and availability of high-quality diabetes care in these markets.”
Ajanta Pharma is a specialty pharmaceutical company with a primary focus on branded generics across India, Asia, and Africa, supported by on-ground operations in over 30 countries. Several of its products have been first-to-market and category leaders in their sub-therapeutic segments. The Company also operates a generics business in the United States and an institutional business in Africa.
Ajanta’s state-of-the-art R&D centre is located in Mumbai, supported by seven world-class manufacturing facilities in India. For FY 2024–25, the Company reported revenue of ₹4,648 crore, EBITDA of ₹1,260 crore (27%), and PAT of ₹920 crore (20%). Over the past three financial years, Ajanta has delivered a revenue CAGR of 11% and a PAT CAGR of 25%.
