Canada approved a generic version of Novo Nordisk’s Wegovy/Ozempic semaglutide, produced by Dr. Reddy’s Laboratories, positioning the country as the first G7 market to offer a semaglutide generic. The product is prescription-only, and Canada said it is considering additional semaglutide generic alternatives. The approval intensifies competitive pressure in GLP-1 markets, where pricing has been a central barrier to broad access, particularly in the U.S. and other high-cost settings. The move also comes amid accelerating generic launches driven by patent expiries and broader manufacturing capacity. For biotech companies with obesity and metabolic franchises, the regulatory signal from Canada supports a near-term shift toward price competition and greater scrutiny of pricing and access strategies.