Health Canada has approved the first generic version of Novo Nordisk's blockbuster diabetes drug Ozempic made by Indian drugmaker Dr Reddy's Laboratories.
The move is expected to drive down monthly prices for some users, with many generic medications in Canada being 45% to 90% cheaper than the brand-name versions.
Several drugmakers have been developing lower-cost versions of Novo Nordisk's diabetes drug Ozempic, following the expiry of certain patent protections in India.
Swiss generic drugmaker Sandoz plans to launch a generic version of Ozempic in Canada by June, positioning itself among the first wave of companies seeking to market copycat versions of the blockbuster GLP-1 therapy.
Novo Nordisk is facing mounting sales pressure as rival Eli Lilly's GLP-1 drugs, Mounjaro and Zepbound, continue to gain market share.
