Sandoz gets Canadian approval for generic Ozempic drug

Sandoz Group has been granted regulatory approval by Health Canada for its generic version of semaglutide, the key component in diabetes medication Ozempic, manufactured by Novo Nordisk. This authorization permits Sandoz to sell the generic semaglutide for treating adult patients with type 2 diabetes in Canada. The Swiss pharmaceutical company had previously secured approval for a GLP-1 product in Brazil earlier this year.

In partnership with Adalvo, Sandoz intends to commercialize the semaglutide generic, known as Owozy. Canada is home to nearly six million diabetes patients, with type 2 diabetes being the predominant form. Sandoz believes the GLP-1 market in the country is valued at $2.6 billion. The company does not anticipate any significant earnings impact from the launch of generic semaglutide versions in the current year.

The Canadian approval does not alter Sandoz's guidance for 2026. This information has been AI-assisted and reviewed by an editor.