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(Bloomberg) — Dr Reddy’s Laboratories Ltd. plans to launch its version of generic Ozempic this month, filling a void in the Canadian market months after a key patent expiry and paving the way for cheaper access to the GLP-1 drugs.
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The Hyderabad-based firm would be the first to start selling its generic version in the country as it launches the therapy in the “next few days,” Chief Executive Officer Erez Israeli told reporters Tuesday. The firm is looking to sell the therapy at a “very healthy price,” Israeli said, without sharing further details on pricing.
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Health Canada approved its application last month, after issuing a negative review last year. Exclusivity on semaglutide — the key ingredient in Novo Nordisk’s Ozempic and Wegovy — expired in the country on Jan. 4.
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“Our goal is to play an important role in shaping the Canada market,” Deepak Sapra, Dr. Reddy’s CEO for API and services, told reporters.
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The release would make Canada the second country with generic Ozempic after India, and lay the groundwork for proliferation of cheaper, non-branded versions of the diabetes and weight-loss drugs globally.
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Health Canada also approved Apotex Inc.’s application on May 1, and is reviewing seven other submissions by other companies. It expects to make regulatory decisions in the coming weeks and months, it said in a statement.
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Catherine Thomas, a spokesperson for Apotex, said in an email that the company plans to have its generic semaglutide available in Canada by the end of May.
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Since only two companies have gotten approval, “the price will likely be higher initially and then drop as more companies start selling,” Israeli added.
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Dr. Reddy’s will also launch oral versions of its generic semaglutide in India this month, Israeli added, and look to sell them internationally, including in Canada, in the future.
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—With assistance from Melissa Shin.
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English (US)