Dr. Reddy's Laboratories Ltd. plans to launch its generic version of Ozempic in Canada within days, filling a market void after a key patent expiry and paving the way for cheaper access to GLP-1 drugs. The Hyderabad-based firm becomes the first to sell its generic semaglutide in the country, with CEO Erez Israeli announcing the launch in the 'next few days' during a Tuesday press conference.
Pricing and Market Impact
Israeli stated the company aims to offer the therapy at a 'very healthy price' but declined to provide specifics. The launch positions Canada as the second country after India to have a generic Ozempic, potentially driving down costs for diabetes and weight-loss treatments. 'Our goal is to play an important role in shaping the Canada market,' said Deepak Sapra, Dr. Reddy's CEO for API and services.
Regulatory Approvals and Competition
Health Canada approved Dr. Reddy's application last month, reversing a negative review from the previous year. The exclusivity on semaglutide—the active ingredient in Novo Nordisk's Ozempic and Wegovy—expired in Canada on January 4. Health Canada also approved Apotex Inc.'s application on May 1 and is reviewing seven other submissions, with decisions expected in the coming weeks. Apotex spokesperson Catherine Thomas confirmed the company plans to have its generic semaglutide available by the end of May.
Future Plans
Dr. Reddy's will also launch oral versions of its generic semaglutide in India this month, with plans to expand internationally, including to Canada. Israeli noted that with only two companies currently approved, prices may initially be higher but will decrease as more competitors enter the market. This development marks a significant step toward broader access to affordable GLP-1 drugs globally.
