Sandoz Canada appears to be preparing for an approval for a generic version of Ozempic. This semaglutide-based prescription drug has taken the diabetes world by storm and is now gaining steam for weight loss. The company intends to ride the wave of the Canadian patent for semaglutide-based drugs expiring this January. Overwhelming demand Whether it’s demand for the U.S. Drugs similar to Ozempic now rank as the most prescribed drugs, especially for the treatment of obesity.
Novo Nordisk created the brand-name versions of Ozempic and Wegovy. These drugs are now selling for $200–$400/month. Sandoz Canada’s CEO, Richard Saynor, hasn’t just made a big claim. He argues that for its own semaglutide, the company would be able to launch it at a much lower price than the brand name equivalents—60–70 percent lower. This pricing strategy wants to ensure that this treatment is affordable and widely available to Canadians who are suffering from diabetes and weight-related issues.
Growing Demand for Semaglutide
With the obesity epidemic only getting worse, semaglutide-based drugs have been a runaway hit. The Logic recently covered Sandoz Canada’s initiative to test the market’s appetite for lower-cost alternatives to Ozempic. Murad Hemmadi’s article highlights how versions of Ozempic specifically intended for weight loss have rapidly climbed the ranks of prescribed medications in Canada.
Most recently, Telus Health released data showing diabetes drugs have quickly become one of the most prescribed classes of drugs in the country. Especially surprising, Ozempic is amongst this group. This trend highlights the critical need for effective treatments, which Sandoz Canada is working to provide with its leading generic portfolio. With patents expiring, it’s a great time for Sandoz to strike. The time is ripe for them to launch their product and capture a lucrative expanding market.
Competitive Pricing Strategy
Sandoz Canada’s initiative is part of a larger trend towards affordability in healthcare. Its goal is to offer semaglutide at a cost well below current brand-name offerings. We applaud this decision and their clear commitment to expanding access for patients who cannot afford the life-saving treatments they need. Richard Saynor’s comments in the Financial Times make clear this commitment. He highlights the promise of providing greater financial access to promising diabetes and obesity treatments.
No one knows better than patients just how expensive brand-name drugs can be. By offering a generic version at a competitive price point, Sandoz Canada aims to alleviate some of this burden while meeting the pressing healthcare needs of Canadians.
Anticipating Market Response
In fact, Sandoz Canada is preparing to enter the market with its own generic Ozempic. Beyond launching the vehicle, the company will have to pivot to measuring public interest and acceptance. The company is eager to see how Canadians respond to this new option for managing their diabetes and weight loss goals. With rising healthcare costs and increasing demand for effective treatments, Sandoz Canada’s initiative may very well shape the future landscape of diabetes care in Canada.
