Biocon Plans Generic Versions of Ozempic and Wegovy for Canada’s Weight-Loss Market

Biocon, a leading pharmaceutical company from India, is preparing to enter the fast-growing weight-loss market. The company plans to launch generic versions of popular drugs Ozempic and Wegovy as their patents expire next year.

As per Bloomberg News, Biocon will apply for regulatory approval of generic Ozempic in Canada by September 2025, along with filing in other emerging markets.

Regulatory Plans and Timeline

Siddharth Mittal, Biocon’s Managing Director, said Canada is the company’s best bet to start selling semaglutide (the main ingredient in Ozempic and Wegovy). If all goes well, approvals may come by 2026.

Once approved, Biocon will join the world’s top generic drugmakers. With the patents ending, other companies will also be able to sell cheaper versions in Canada.

Competition and Market Potential

Danish drugmaker Novo Nordisk, which currently controls 70% of the global semaglutide market, will lose its monopoly as competitors like Biocon and Sandoz step in.

However, this patent expiry only affects Canada and some other countries. Patents in the US, Europe, and Japan will still protect Novo’s exclusivity for now.

Focus on Emerging Markets

Biocon is planning to expand not just in Canada but also in emerging markets across Latin America and Asia-Pacific, including India. Other companies like Israel’s Teva Pharmaceutical and China’s Gan & Lee are also preparing to launch similar generic obesity drugs.

The company will soon begin phase-3 clinical trials in India and plans to apply for approvals next year.

Previous Milestones and Pricing Strategy

Biocon was the first to get approval to sell the generic version of liraglutide, Novo’s older diabetes and weight-loss drug, in the UK.

Wegovy is commonly prescribed with exercise and diet for weight loss in adults and teens aged 12 and above.

Regarding pricing, Biocon has stated it will not sell these drugs at extremely low prices because Novo’s prices are already reasonable. Novo introduced Wegovy in India in June.

Meanwhile, Cipla and Torrent Pharmaceuticals are also working on similar generic drugs and plan to launch them in India once patents expire.

Biocon Share Price Movement

On July 2, 2025, Biocon share price was trading at ₹366.45, up 1.09% for the day, with a market capitalisation of ₹43,900 crore, a P/E ratio of 43.32, and a dividend yield of 0.14%. The stock opened at ₹363.20, touched a high of ₹367.95 and a low of ₹362.50 during the session. Over the past 52 weeks, it has ranged between ₹291.00 and ₹404.70, and its quarterly dividend amount is ₹0.13. 

Read More: Key Financial Changes from July 2025: Aadhaar-PAN Linking, Taxes, Railways, HDFC Credit Cards, and More!

Conclusion

Biocon’s move to bring generic versions of Ozempic and Wegovy to Canada and emerging markets shows its commitment to growing in the obesity treatment segment. With patents expiring soon, the company is positioning itself to compete strongly and expand its global footprint in this high-demand space.

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