Sandoz Plans First GLP1 Generic Drug Launch in Canada in 2026
(Bloomberg) — Sandoz Group AG plans to launch a semaglutide generic drug in Canada when the patent for the main ingredient of blockbuster diabetic and weight-loss drugs like Ozempic and Wegovy wears off in 2026.
“Canada is the second largest market for GLP-1s globally, so it’s quite a significant opportunity,” Sandoz Chief Executive Officer Richard Saynor said in an interview with Bloomberg Television Tuesday. The company expects to learn important lessons from the launch for the market opening in Europe and the US, expected in the early 2030s, he said.
The GLP-1 market is expected to reach $100 billion by 2030, according to a study by JPMorgan Chase & Co. from 2023. Sandoz is working on the drug together with Pharmathen, a Greek firm owned by Swiss private equity outfit Partners Group.
Sandoz was spun off from Novartis AG a year ago to become the largest maker of generic drugs in Europe.
(Corrects date range of expected launch in Europe and US in second paragraph.)
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