The Public Health Institute (ISP), the agency that authorizes the sale of medicines in Chile, approved Picmagluti, an injectable solution from Dr. Reddy's Laboratories Chile. It is the first chemically synthesized semaglutide authorized in the country. Semaglutide is the active ingredient in Ozempic, the drug made by Danish pharmaceutical company Novo Nordisk.
According to Diario Financiero, the product received two registrations, one for the formulation delivering 0.25 or 0.5 mg per dose and another for the 1 mg formulation. La Tercera reported that approval came almost a month later than expected.
The difference from the original lies in manufacturing. Picmagluti is produced through chemical synthesis, meaning the compound is made in a laboratory through chemical reactions. Ozempic and Novo Nordisk's other brands have a different origin, although the sources do not detail the process.
Price is what matters most to patients. Ozempic currently sells in Chilean pharmacies for $140 thousand to more than $300 thousand per month, depending on the dose and pharmacy. Diario Financiero reported that Picmagluti is expected to cost even less than half as much. The final price has yet to be announced.
ISP Director Catterina Ferreccio, an epidemiologist, explained the balance the agency seeks. "We know there are patients waiting, and that is why we are speeding things up, in direct contact with each laboratory, but a registration cannot be granted without complete evidence of quality and safety," she said.
According to the ISP, cited by CNN Chile, the approval places Chile among the first countries to authorize this version. Canada and Brazil did so in May 2026, Argentina in 2024, while the United States and Australia have yet to approve chemically synthesized versions.
Picmagluti will not be the only one. The ISP is evaluating another five synthetic semaglutide products, submitted by four laboratories between June 2025 and July 2026. These account for 11 applications, because each dose or formulation requires its own registration.
Laboratorios Recalcine is seeking authorization for Seglobia in two formulations. Exeltis Chile is seeking to register Glutixa and Curbles, each in two formulations. Laboratorios Siegfried submitted an injectable semaglutide solution, also in two formulations. Laboratorio Chile is awaiting approval for Selfix in doses of 0.25, 0.5 and 1 mg and, according to La Tercera, promises to lower prices by 50%.
Demand explains the industry's interest. According to data from consultancy IQVIA cited by La Tercera, semaglutide sales in Chile reached US$415 million at retail prices between July 2021 and July 2026. In the latest annual period, 735,952 units were sold, 57% more than the previous year.
Behind those figures is a widespread health problem. The 2016-2017 National Health Survey showed that 74.2% of Chilean adults are overweight or have obesity, and 34.4% have obesity. The Organisation for Economic Co-operation and Development (OECD) projects that excess weight and its associated diseases will reduce Chile's cumulative GDP by 3.8% between 2020 and 2050.
The sources do not specify which medical indications Picmagluti was authorized for. The ISP clarified that progress on the other five applications depends on laboratories submitting complete documentation on time.
