SAO PAULO, March 21 (Reuters) - Brazilian drugmaker

Hypera plans to launch next year a generic version of

semaglutide, the active ingredient of Novo Nordisk's

blockbuster diabetes and weight-loss drug Ozempic, Hypera's

chief executive said on Friday.

The patent protection for semaglutide, which is also the key

ingredient of injectable obesity treatment Wegovy and the oral

diabetes drug Rybelsus, expires in Latin America's largest

country in March 2026, allowing companies there to produce their

own versions.

"We are working to launch it as soon as the patent expires

and we are very optimistic about this product from next year,"

Hypera CEO Breno de Oliveira told analysts on a call after the

company reported fourth-quarter results.

XP Investimentos analysts last month said the patent

expiration would be positive for Hypera as the offering of a

semaglutide drug would add a fast-growing segment to its

portfolio, with volume growth helping offset a drop in prices.

Oliveira said Hypera believes prices for a generic

semaglutide would not drop as dramatically as they have for

other generic drugs, citing higher production costs and lower

availability of injection pens used to deliver doses of the

medicine.

"We do not expect such a large degradation of this category

in the short term," he said, noting that four companies had

already submitted requests for registration of drugs based on

semaglutide to regulator Anvisa.

Rival Biomm last year announced a licensing and

supply agreement with India's Biocon for generic

Ozempic commercialization in Brazil.

Biomm at the time, citing data from consulting firm IQVIA ( IQV )

, said Ozempic sales in the country had totaled 3.1

billion reais ($541.56 million) in 2023, implying a compound

average growth rate of 39% from 2021 to 2023.

Hypera's shares were up 7% on Friday, the biggest gainer on

Brazil's benchmark stock index Bovespa, which was flat.

($1 = 5.7242 reais)