16:31:34 EDT Tue 24 Mar 2026
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Novo Nordisk CDR (CAD Hedged)
Symbol NOVO
Shares Issued 1,100,000
Close 2026-03-23 C$ 15.55
Market Cap C$ 17,105,000
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Globe says Novo sees generic Ozempic debut in India

2026-03-24 06:53 ET - In the News

The Globe and Mail reports in its Tuesday edition that pharmaceutical companies have launched generic versions of Ozempic in India, reaching the market before Canadians, despite the drug being legal in Canada for nearly three months. The Globe's Chris Hannay writes that Novo Nordisk's patent protections on Ozempic expired recently, allowing Indian pharmaceutical firms to announce approval for launching generic versions of semaglutide, its active ingredient. That included Dr. Reddy's Laboratories with its drug Obeda, which is to be prescribed for Type 2 diabetes. Dr. Reddy's said it was also working on a formulation of Obeda for weight management, which is the other use for which semaglutide is usually prescribed. Dr. Reddy's said the price of Obeda would be 4,200 rupees (about $62), which is about half the cost of brand-name Ozempic in India. Another launch came from Sun Pharmaceutical, which announced its versions of injectable semaglutide as Noveltreat (for weight) and Sematrinity (for Type 2 diabetes). Sun said its drugs would cost between 900 and 2,000 rupees, depending on dosage. Both Dr. Reddy's and Sun applied to Health Canada to market generic semaglutide in Canada, but have yet to receive an approval.

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