Canada approves second generic Ozempic to slash diabetes drug costs

Canada has become the first G-7 nation to approve a generic version of Ozempic. Health Canada recently greenlit a second generic semaglutide, produced by Toronto-based pharmaceutical firm Apotex. The move aims to lower costs for adults managing Type 2 diabetes. The generic medication contains the same active ingredient as Ozempic—semaglutide. Health Canada first authorised a generic version earlier this year, with Apotex now joining as the second manufacturer. Experts predict pricing changes as competition grows.

Initially, the first generic could cost between 75 and 85 per cent of Ozempic’s brand-name price. With two generics available, prices may fall to around 50 per cent. If three or more enter the market, costs could drop further to roughly 35 per cent of the original. The approval covers treatment for adults with Type 2 diabetes. Apotex, a global company headquartered in Toronto, will manufacture the latest generic option.

The arrival of generic semaglutide is set to reduce expenses for diabetes patients. With more manufacturers entering the market, prices could decrease significantly over time. Health Canada’s decision marks a shift toward more affordable medication options.