Health Canada has given the green light to the second generic alternative of the brand-name drug Ozempic, produced by Apotex, a Canadian pharmaceutical firm. This approval closely follows Health Canada’s recent authorization of the first generic semaglutide, the key ingredient in Novo Nordisk’s Ozempic, which was manufactured by Dr. Reddy’s Laboratories in India.
While these injectable medications are primarily intended for treating Type 2 diabetes in adults, Ozempic is commonly used off-label for weight management. Canada has become the first among the G7 nations to approve generic semaglutide.
Apotex, a global pharmaceutical company headquartered in Toronto, is poised to make its product available to Canadians in the next few weeks. Catherine Thomas, the company’s Vice President of Global Communications, expressed their commitment to launch the new product promptly to meet the demand.
The introduction of generic semaglutide is eagerly awaited by many individuals without drug coverage due to the high cost of the brand-name medication, which can amount to hundreds of dollars per month. The price difference between generic semaglutide and Ozempic will depend on the number of generic options approved and released into the market.
Experts suggest that the initial generic medication could cost between 75 to 85 percent of the brand-name drug, with the price dropping to 50 percent when a second generic enters the market. The cost could further reduce to around 35 percent of the original price when three or more generic products are available in Canada.
Apotex is collaborating with health insurance providers to ensure coverage of the new drug. Thomas emphasized that the process of including generics in most private plans typically occurs shortly after the product launch.
Despite the positive impacts of semaglutide drugs, such as reducing inflammation, arthritis, and the risk of major cardiac events, stroke, and premature death, experts urge caution in their usage. Dr. Hertzel Gerstein, a diabetes specialist and researcher, emphasizes the potency of these medications and advises consulting healthcare professionals before starting any weight loss drug regimen.
