11:11:47 EDT Thu 29 Oct 2026
Enter Symbol
or Name
USA
CA



Novo Nordisk CDR (CAD Hedged)
Symbol NOVO
Shares Issued 1,500,000
Close 2026-10-28 C$ 16.75
Market Cap C$ 25,125,000
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Globe says Novo hears expiring patents could save $94B

2026-10-29 08:47 ET - In the News

The Globe and Mail reports in its Thursday edition that over 300 drugs will expire patent protection in Canada over the next decade, potentially saving insurance plans $94-billion, says Swiss generics giant Sandoz Group. The Globe's Chris Hannay writes that Sandoz's Canadian branch released an analysis Wednesday quantifying the market size of upcoming off-patent drugs and identifying government and insurance bottlenecks that may restrict patient access. The speed of regulatory approvals has become a top concern for the generic drug industry in Canada. The backlog of generic submissions has doubled in the past year. Health Canada has a target of assessing submissions within 180 days, which was met only 72 per cent of the time in the 2025-26 fiscal year. The Sandoz report's modelling suggests that, without generic options, public and private payers would pay $183-billion on more than 300 drugs when they go off patent -- or $89-billion if cheaper off-patent drugs were promptly available when legal. Sandoz Canada's Michel Robidoux says, "This is a great opportunity to [cut] health care costs." The single biggest year for new generics becoming available was 2026, when Novo Nordisk's protection for Ozempic expired.

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