Dr Reddy's Laboratories Receives Approval to Launch Generic Version of Ozempic in Canada

Dr Reddy's Laboratories Receives Approval for Generic Semaglutide Injection from Health Canada

Dr Reddy's Laboratories has announced that it has received approval from Health Canada for its generic Semaglutide Injection. This approval allows Dr Reddy's to sell a generic version of Ozempic, a medication used to improve glycemic control in adults with type 2 diabetes, ahead of the agency's original review target date.

As a result, Dr Reddy's gains a first-mover advantage in the second-largest market for Semaglutide, which is valued at approximately $1.3 billion as of 2026. The authorization covers two dosages, 2 mg/pen and 4 mg/pen (1.34 mg/mL), which are aimed at improving glycemic control in adults with type 2 diabetes.

The demand for affordable, high-quality treatments for diabetes is immense in Canada, with approximately 3.9 million Canadians living with diagnosed diabetes and over 6% of adults living with prediabetes. This milestone underscores Dr Reddy's expertise in complex peptide science and its ability to meet stringent global regulatory standards.

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The approval from Health Canada also benefits Dr Reddy's CDMO partner, OneSource. While Dr Reddy's produces the active pharmaceutical ingredient (API) entirely in-house to ensure supply consistency, OneSource provides the essential scale-up and finished product manufacturing support.

The following table compares the stock performance of Dr Reddy's and OneSource:

The approval strengthens the collaboration between Dr Reddy's and OneSource, merging Dr Reddy's development expertise with OneSource's specialized manufacturing capabilities.

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