Canadians Set to Access Affordable Ozempic by January 2026

Canadians may soon have access to more affordable versions of medications like Ozempic and Wegovy, with generic options potentially hitting the market as early as January 2026. Currently, patients pay around $400 a month for these drugs, which are celebrated on social media for their effectiveness in weight loss. Dr. Sanjeev Sockalingam, scientific director at Obesity Canada and a professor at the University of Toronto, notes that many of his patients have expressed frustration over the high costs associated with these treatments.

The medications in question are injectable prescription drugs that contain the active ingredient semaglutide. This class of drugs, known as glucagon-like peptide-1 (GLP-1s), helps regulate blood sugar levels and suppress appetite. While Ozempic is approved for diabetes treatment, Wegovy is specifically approved for weight loss. According to a recent study, nearly 33 percent of Canadians, approximately 10.6 million people, were classified as obese in 2023.

Potential Price Reductions and Market Competition

With the expiration of price protections for Ozempic and Wegovy in Canada slated for January 2026, multiple companies are gearing up to introduce generic versions. Dr. Mina Tadrous, an associate professor at the University of Toronto focused on pharmaceutical pricing, indicates that three to four manufacturers are in the process of developing these alternatives. He explains that the number of competitors influences the pricing structure significantly.

“The classic framework is that if you have only one generic option, the price might drop to 75 percent of the original. With two options, it could go down to 50 percent, and with three, it could hit 25 percent,” Tadrous states. If three manufacturers enter the market, the price for semaglutide could decrease from $400 to as low as $100 for the same dosage.

Approval Process and Insurance Coverage

As of now, these generic medications have not yet received approval from Health Canada. The agency is responsible for evaluating applications from companies seeking to produce and sell biosimilars—generic versions of injectable medications. Since new clinical trials are not necessary for these alternatives, they could become available shortly after Health Canada’s approval, as they can be “grandfathered” in based on existing trial data.

Semaglutide is already included in the Ontario drug formulary, which covers medications for individuals over age 65, people in long-term care, and those receiving Ontario Works or disability support. Dr. Tadrous suggests that once generic forms become available, public drug insurance plans will likely switch to covering them, with private insurers expected to follow suit.

Dr. Kaberi Dasgupta, a professor of medicine at McGill University, highlights the potential impact of these generics. “This would be good news for individuals with excess weight and related health issues who cannot currently afford the branded medications. Generic versions will open the door for many more people,” she asserts.

Considering Patient Support and Potential Shortages

Patients prescribed semaglutide should have their treatment monitored by a physician. Dr. Dasgupta emphasizes the importance of integrating dietary and physical activity support alongside medication. In the UK, for instance, semaglutide prescriptions are often accompanied by at least 13 hours of counseling focused on diet and exercise.

Concerns about drug shortages persist, particularly because some GLP-1 medications are also used to treat Type 2 diabetes. Dr. Harpreet Bajaj, an endocrinologist with LMC Healthcare in Brampton, Ontario, recalls instances where patients had to discontinue Ozempic due to supply issues. The introduction of biosimilars could alleviate some of this pressure, as these medications are produced by new manufacturers and may be developed in a more cost-effective manner.

Dr. Dasgupta, who also manages diabetes patients, has observed that access to medications can be more readily available through publicly funded plans in Quebec than through some private insurers that focus predominantly on cost.

As Canadians await the rollout of these more affordable options, the potential benefits are clear: increased access to effective weight loss treatments could improve the health of millions grappling with obesity and related complications.