The GLP-1 queue

GLP-1s — the diabetes and weight-loss drugs such as semaglutide — are what much of the industry is chasing. GLP-1 came up on six of the eleven CDMO calls this quarter. Nobody says they are selling any yet.

Of those that say, Anthem is closest. Its semaglutide ingredient is waiting for Indian approval, which it expects “in a quarter or two”; so far GLP-1 “hasn’t kicked in in terms of sales”. Shilpa’s presentation says it has finished developing the ingredient, an injection and an oral form, and is aiming for FY28.

“We still see GLP-1 as a long-term very robust opportunity.” Ajay Bhardwaj, CEO · Anthem Biosciences · 22 July 2026

Laurus and Divi’s would not give details — see The peptide silence. Blue Jet is opening a research centre whose work includes building blocks for GLP-1 drugs. Sai Life is building for peptides well beyond GLP-1. Gland, Neuland, Piramal, Syngene and Cohance did not mention it.