While every major pharmaceutical company in the world has been chasing the generic Ozempic prize, it was a Hyderabad-headquartered Indian company that crossed the finish line first — in a G7 country no less. Health Canada on April 28, 2026 authorized a generic semaglutide injection submitted by Dr. Reddy’s Laboratories — making it the first generic semaglutide approved in the G7, and the first authorized by Health Canada. The US, UK, Germany, France, Italy and Japan have all yet to approve a generic version of the blockbuster diabetes and weight-loss drug. Canada just did — and an Indian pharma company got there first.
The Dr. Reddy’s semaglutide injection is a generic version of Ozempic, indicated for once-weekly treatment of adult patients with type 2 diabetes to manage blood sugar levels. Health Canada authorized the drug after a thorough review of evidence demonstrating it meets the regulator’s criteria for safety, efficacy and quality.
Health Canada completed the review of Dr. Reddy’s submission within its target timeline of 180 days — a review timeline shorter than many international regulators. The department is currently reviewing eight other submissions for generic semaglutide from different companies, and expects to make regulatory decisions on more in the coming weeks and months.
The commercial significance of this approval extends well beyond Canada. In Canada, many generic medications are 45 to 90% cheaper than brand name versions — meaning Dr. Reddy’s generic Ozempic could dramatically reduce the cost of semaglutide therapy for Canadian patients and the healthcare system. More importantly, being first to market in a G7 country establishes Dr. Reddy’s as the reference generic manufacturer globally — a positioning that could accelerate regulatory approvals in other markets and give the company a head start as patents expire in the US and Europe.
The approval also builds on the broader generic semaglutide momentum already underway in India, where CLSA recently noted that Torrent Pharmaceuticals, Dr. Reddy’s and Zydus Lifesciences had collectively grown generic semaglutide market share from 25% to 33% within just 10 days of the Indian launch in March 2026. For Dr. Reddy’s, the Canada approval is the international validation of that domestic head start.