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Dr Reddy's First to Launch Generic Ozempic in Canada
12 May
Summary
- Dr Reddy's will be the first to launch its generic Ozempic in Canada.
- Health Canada approved the drug after patent expiry on January 4.
- Other companies like Apotex also plan launches by May's end.
Dr Reddy's Laboratories is poised to launch its generic version of Ozempic in Canada within days, marking a significant development for the GLP-1 drug market. This launch will make Canada the second country, after India, to offer a generic alternative to Novo Nordisk's diabetes and weight-loss medication.
The company received approval from Health Canada last month, shortly after the exclusivity period for semaglutide, the active ingredient in Ozempic, expired on January 4. Dr Reddy's aims to offer the therapy at a competitive price, with CEO Erez Israeli expressing a goal to influence the Canadian market significantly.
Other pharmaceutical companies are also preparing to enter the market. Apotex Inc. received approval on May 1 and intends to make its generic semaglutide available by the end of May. Health Canada is currently reviewing seven additional submissions, indicating a forthcoming increase in generic options. Initially, prices may remain higher due to limited competition but are expected to decrease as more manufacturers gain approval.
