Healthy Returns: First Ozempic generics in Canada will be a test case for Novo Nordisk

Ozempic is medicine for adults with type 2 diabetes that along with diet and exercise may improve blood sugar. (Photo by Steve Christo - Corbis/Corbis via ) Steve Christo - Corbis | Corbis News | A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions. The day has finally come: we have the first-ever generic versions of Novo Nordisk 's wildly popular diabetes drug Ozempic in North America. Health Canada approved the first one by Indian drugmaker Dr. Reddy's ‌Laboratories on April 28, and later cleared another generic from Canada-based Apotex. The health agency said it is reviewing seven other generic versions of Ozempic for approval. To be clear, these generics are only available in Canada and not the U.S. Other generic versions of the drug have been available in India . Some analysts also don't expect the impact of new Canadian generics to spill over into the U.S. Even so, Ozempic sales here may be pressured by other factors, such as competition with Eli Lilly' s Mounjaro. Still, those two new generics in Canada likely mark the start of a decline in international revenue of semaglutide, the active ingredient in Ozempic and Novo's obesity drug Wegovy, BMO Capital Markets analyst Evan Seigerman said in a note late last month. They will also be a test case for how well generics can compete against branded GLP-1 treatments, he added. …