16:16:52 EDT Mon 13 Apr 2026
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Novo Nordisk CDR (CAD Hedged)
Symbol NOVO
Shares Issued 1,050,000
Close 2026-04-10 C$ 15.64
Market Cap C$ 16,422,000
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Globe says Novo Nordisk sees Apotex wins U.S. FDA nod

2026-04-13 09:01 ET - In the News

The Globe and Mail reports in its Monday, April 13, edition that Apotex has won tentative approval from the U.S. Food and Drug Administration for a cheaper Ozempic. The Globe's Chris Hannay writes that Apotex said Friday that its injectable version of semaglutide, the active ingredient in the blockbuster diabetes and weight-loss drugs Ozempic and Wegovy, was developed with Indian pharmaceutical company Orbicular Pharmaceutical Technologies. A tentative approval from the FDA means the regulator has done a scientific assessment of the drug, but it is not cleared for sale until legal protections expire. The main United States patent on Ozempic, held by Novo Nordisk, expires in 2032. Being the first generic to launch in the United States comes with 180 days of market exclusivity, which could be especially significant for Ozempic. Novo Nordisk reported 2025 sales of about $67-billion, more than half of which came from selling Ozempic and Wegovy in the U.S. "This is an enormous first-mover advantage, as it would allow the first company to establish contracts and supply chains," said Michael Law, a pharmaceutical policy researcher at the University of Calgary. Apotex is the largest drug manufacturer in Canada.

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