Hypera Pharma (HYPE3.SA): ANVISA approved five new semaglutide branded similars in Brazil, two from Hypera

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Equity Research

29 July 2026 | 11:20AM BRT

Hypera Pharma (HYPE3.SA): ANVISA approved five new semaglutide

branded similars in Brazil, two from Hypera

The news. Today, July 29, 2026, the Brazilian Sanitary Agency (ANVISA) approved

the registration of five new semaglutide-based injection branded similars for the

treatment of type 2 diabetes and obesity in Brazil:

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Zempneo, from Brainfarma (Hypera’s subsidiary).

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Semavy, from Cosmed (Hypera’s subsidiary).

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Orsema, from Ranbaxy.

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Seemasun, from Sun Farmacêutica.

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Owozy, from Ávita Care (in partnership with Sandoz).

Gustavo Miele

+55(11)3371-0834 |

Goldman Sachs do Brasil CTVM S.A.

All products have been registered under ANVISA’s “new drug” category (as a new

active pharmaceutical ingredient via an abbreviated development pathway).

Notably, two of the five drugs approved, Semavy (Cosmed) and Zempneo

(Brainfarma), belong to Hypera’s (HYPE3, Neutral) subsidiaries. Additionally,

Ávita Care’s Owozy will rely on Sandoz (Buy, covered by Shyam Kotadia) its

commercialization in Brazil and Adalvo for the detention of technology and

development of the molecule, according to news. All the presented new drugs are

positioned in the 1.34 mg/ml concentration, matching the dosage of Novo Nordisk’s

reference drug (Ozempic), but below Wegovy’s 3.2 mg/ml.

Our take. As detailed in our GLP-1 outlook at the beginning of the month, we

broadly expected the approval of Hypera’s and Avita Care’s products (in partnership

with Sandoz). Over the coming months, with a total of six alternatives to Ozempic

now available in drug stores, we reiterate our view that we are entering a phase of an

acceleration in price competition and a sharp increase in semaglutide volumes sold

in Brazil - we forecast a base case of 18 mn boxes of semaglutide products will be

sold in Brazil in 2027, most of them from these branded similar alternatives to

Ozempic.

For Hypera (HYPE3, Neutral), we estimate two to three months for importing logistics

and commercialization and reiterate our view that Hypera’s semaglutide branded

similars (Semavy and Zempneo) are expected to reach Brazilian drugstores by

4Q26.…