Health Canada approves country’s 1st generic version of Noro Nordisk’s Ozempic

Health Canada’s approval of the first generic version of semaglutide could help cash-strapped Canadians manage type 2 diabetes without breaking the bank.

This is the first generic version of the weekly injection and the first to be approved in the G7.

While some people with type 2 diabetes manage their glucose levels through daily oral medications or lifestyle changes, others need to take weekly or daily injections.

The drug is also often prescribed off-label for weight loss.

Novo Nordisk’s Ozempic can cost hundreds of dollars a month, but the new generic version could begin a downward price trend.

One pharma expert says just how much cheaper the new generic drug will be depends on how many options are approved and hit the market.

Health Canada says it is still reviewing eight other submissions from various companies.

The agency says the drug was authorized after a thorough review of evidence provided by the company, demonstrating that the drug meets Health Canada’s criteria for safety, efficacy and quality for generic drugs.

Health Canada reports that many generic medications are 45 to 90 per cent cheaper than their brand name counterparts.

With files from The Canadian Press

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