Health Canada has approved the first generic version of the diabetes medication Ozempic. Canada is the first G7 nation to authorize generic semaglutide.
The injectable medication, manufactured by India-based Dr. Reddy’s Laboratories, is approved for the once-weekly treatment of Type 2 diabetes. Health Canada notes that generic medications are often 45 to 90 percent cheaper than their brand-name counterparts. Many individuals without drug coverage have awaited this lower-cost option, as Ozempic can cost hundreds of dollars monthly. The drug is frequently prescribed off-label for weight loss.
Health Canada is reviewing eight additional generic semaglutide submissions. Pharmaceutical policy expert Mina Tadrous suggests that the price reduction will depend on market competition, potentially reaching 35 percent of the brand-name cost once three or more generics are available. The approved generic semaglutide was submitted for review in early 2024 and met Health Canada’s six-month target timeline. The department assures that these generic products are pharmaceutically equivalent to Ozempic, emphasizing that their availability is expected to provide significant cost savings for both patients and the healthcare system.