Aspen Pharmacare Targets Canadian Market with Generic Ozempic by Q3

JOHANNESBURG, March 3 (Reuters) – Aspen Pharmacare Holdings Ltd. is on track to launch its generic version of the widely used diabetes medication Ozempic in Canada by the third quarter of this year, the South African pharmaceutical giant's chief executive said on Tuesday.

CEO Stephen Saad told Reuters the company is in the final stages of the regulatory review process with Health Canada. "We are receiving feedback from the regulators," Saad said. "Based on our current timeline, we anticipate receiving registration in late Q2 or Q3 of this calendar year—so potentially between May and September."

The move comes after the January expiration of Novo Nordisk's Canadian patent for semaglutide, the active ingredient in Ozempic, opening the door for generic competition. Aspen aims to be among the first to offer a more affordable alternative to the brand-name drug, which has also gained massive popularity for weight loss.

The potential entry of a generic could significantly lower costs for patients and healthcare systems in Canada, where demand for GLP-1 receptor agonists like Ozempic has strained supply and budgets. Analysts suggest Aspen's version could capture a meaningful share of the market, though it will face competition from other generic manufacturers preparing their own filings.

Expert & Public Reaction:

Dr. Anya Sharma, Endocrinologist, Toronto: "This is a welcome development for diabetes patients who have struggled with access due to cost. A generic option could improve adherence and outcomes, provided it meets the same efficacy and safety standards."

Michael Porter, Healthcare Analyst, Vancouver: "Aspen's timeline is aggressive but achievable. Their existing manufacturing capacity and experience with complex biologics give them a credible edge in being first to market."

Linda Chen, Patient Advocate, Montreal: "Finally! Novo Nordisk has profited enormously while many Canadians ration or go without. This generic can't come soon enough—it's about time corporate greed was challenged."

Robert Finch, Pharmaceutical Policy Researcher, Ottawa: "While cost savings are important, we must ensure robust post-market surveillance. The rapid entry of generics for such a high-demand drug requires careful monitoring of supply chain and quality."

(Reporting by Nqobile Dludla; Editing by David Goodman)