Health Canada has approved the second generic version of brand-name Ozempic, this one manufactured by Canadian company Apotex.
The authorization comes just three days after Health Canada approved the first generic semaglutide — the active ingredient in Novo Nordisk's Ozempic — made by Dr. Reddy's Laboratories in India.
The injectable medications are approved for the treatment of Type 2 diabetes in adults, but Ozempic is often prescribed off-label for weight loss.
Canada is the first of the G-7 countries to authorize generic semaglutide.
Apotex is a global pharmaceutical company headquartered in Toronto.
Many people without drug coverage have been eagerly waiting for generic semaglutide because the brand name original can cost hundreds of dollars a month.
How much cheaper generic semaglutide will be than Ozempic depends on how many generic options are approved and hit the market.
According to the pricing structure of the pan-Canadian Pharmaceutical Alliance, the first generic medication could cost 75 to 85 per cent of the brand name. Once a second medication enters the market, the price for both drops to 50 per cent. When there are three or more generic products available in Canada, the cost would decrease to about 35 per cent of brand-name Ozempic's price.
Picture Courtesy: THE CANADIAN PRESS/Joe O'Connal
