New Delhi, July 13 -- After an initial surge, generic semaglutide brands have begun to plateau, according to monthly sales data. With demand steadying, industry watchers expect the June trend to continue through the year, dampening plans of several generic drugmakers who entered the highly lucrative yet competitive market. Mint explains what's slowing the growth momentum and what this means for the therapy.

Semaglutide is the compound name for Novo Nordisk's weight-loss and type-2 diabetes drug, better known by the brand names Wegovy and Ozempic. The drug lost its patent exclusivity in India in late March, triggering a host of generic, or copycat, versions of the drug, launched at cheaper (50-90% lower) costs. Over 30 brands were launche...