Novo Nordisk to Cut Ozempic Price for Some Canadians Amid Launch of Generic Alternatives

Novo Nordisk says it will offer lower-priced Ozempic to some Canadian customers through a new savings program as generic versions of the diabetes and weight-loss drug enter the Canadian market.

Eligible Canadians without public or private drug coverage will be able to buy Ozempic for a lower price at pharmacies outside of Quebec using a savings card, the company said in a news release on May 26.

The move comes weeks after Canada became the first G7 country to approve generic versions of semaglutide, the active ingredient in Ozempic. The approval is expected to lower prices for one of the country’s most in-demand diabetes and weight-loss medications.

Customers can get the savings card from the company’s website to present at local pharmacies, while Rexall and some online tele-health and retail partners would apply the lower price automatically, the company said. The lower price takes effect May 29.

Semaglutide injection products, including Ozempic, are marketed for managing type 2 diabetes, and are often prescribed off-label for weight loss. Health Canada approved Ozempic on Jan. 4, 2018, authorizing its use as a once-weekly prescription injection to improve blood sugar levels in adults with type 2 diabetes.

Novo Nordisk says more than 1 million Canadians now use semaglutide.

On April 28, Health Canada approved the semaglutide injection submission filed by India-based Dr. Reddy’s Laboratories. On May 1, it approved a second generic version of semaglutide submitted by Canada-based Apotex, the first Canadian company to receive approval for the drug.

As of Feb. 26, Ozempic had been selling for between $253 and $308 per month in Canada, with Costco offering the lowest price, at $252.98 for a one-month supply of the drug.

With two or more generic semaglutide injection products entering the market, the average product cost could fall to between $115 and $240 per month, according to pricing estimates from tele-health company MyRocky Health.

Health Canada says it plans to review seven more generic versions of semaglutide.

The agency says the generic versions of semaglutide are pharmaceutically equivalent to the brand name biologic drug, and that its review “ensures that differences between these products do not affect the safety, efficacy, or quality of the drug.”

Both the World Health Organization (WHO) and Novo Nordisk have issued advisories related to Ozempic and other semaglutide drugs in recent years. The WHO has flagged a possible link between semaglutide medications and a rare eye condition that can cause vision loss, adding that further study is needed.

Novo Nordisk’s prescribing information for Ozempic also warns of risks including thyroid tumours, pancreatitis, kidney injury, and severe gastrointestinal side effects.