Mr. Fabio Chianelli reports

PHARMATHER LAUNCHES STRATEGIC INITIATIVE TO PURSUE HEALTH CANADA APPROVAL FOR GENERIC SEMAGLUTIDE IN CANADA, BUILDING ON FDA-APPROVED KETAMINE SUCCESS

Pharmather Holdings Ltd. has entered a new strategic initiative to pursue Health Canada approval for generic semaglutide in Canada and, subject to regulatory approval, its commercialization. Semaglutide is the active ingredient in Ozempic and Wegovy. The initiative builds on Pharmather's demonstrated regulatory and partnering execution, including its U.S. Food and Drug Administration approval of ketamine and the monetization of U.S. rights with potential proceeds exceeding $25-million (U.S.).

Canada opens as an early major market for generic semaglutide

In January, 2026, regulatory exclusivity for semaglutide in Canada expired, creating a pathway for regulated generic competition and drawing global attention to Canada as an early major market for generic semaglutide.

Ozempic was estimated to have generated approximately $2.9-billion (Canadian) in Canadian sales in 2025 (source: IQVIA Canada). Industry estimates suggest the broader GLP-1 receptor agonist opportunity in Canada could grow to approximately $6.5-billion (U.S.) by 2033 (source: Grand View Research), reflecting increasing demand and broader adoption.

Pharmather's plan: speed to market, reliable supply and broad dose coverage

Pharmather's initiative is designed to position the company among the early suppliers of generic semaglutide in Canada following regulatory approval, supported by:

• Clear near-term milestone: pursuing Health Canada approval in 2026;
• Broad dose coverage across the treatment journey (0.25 milligram to 2.4 milligrams);
• Sterile injectable manufacturing strategy: leveraging a cost-effective, high-quality commercial sterile injectable manufacturer with facilities audited by regulatory health authorities;
• Platform-building focus: scaling injectable capabilities to support long-term semaglutide supply reliability and enable future global partnering opportunities.

"Canada's semaglutide market is entering a pivotal transition: Demand is growing, and affordable access and reliable supply will matter," said Fabio Chianelli, founder, chairman and chief executive officer of Pharmather. "We've already proven we can execute on FDA approval of injectable drugs and structure a meaningful pharma partnership in ketamine. We are now applying that same execution playbook to pursue Health Canada approval for generic semaglutide and build a scalable sterile injectable platform for the obesity and diabetes market."

Ozempic and Wegovy are registered trademarks of Novo Nordisk A/S. Use of these trademarks is for identification purposes only, and does not imply affiliation, sponsorship or endorsement.

About Pharmather Holdings Ltd.

Pharmather is a specialty pharmaceutical company focused on developing, acquiring and commercializing pharmaceutical products and enabling technologies.

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