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(Reuters) -Swiss generic drug manufacturer Sandoz plans to launch unbranded weight-loss drugs in Canada at discounts of up to 70% compared to branded versions once patents begin to expire next year, CEO Richard Saynor told the Financial Times.
Sandoz is yet to finalise the pricing for its generic weight-loss and diabetes drug semaglutide, but a price cut of "60 or 70 per cent of the list price" was achievable, Saynor told the newspaper.
Prices could drop further as more generic versions become available, Saynor said, noting, "If you were selling this at $40 or $50 a month, the market could be two or three times bigger in terms of the number of patients."
Branded weight-loss and diabetes medications, such as Novo Nordisk's Ozempic and Wegovy, and Eli Lilly's Mounjaro and Zepbound, are currently priced between $200 and $400 for a one-month supply, according to the FT report.
Novo Nordisk's medications use semaglutide as the active ingredient, while Eli Lilly's medications use tirzepatide.
A spokesperson for Sandoz confirmed Saynor's remarks to the Financial Times, but said that he was speaking in general terms about typical price reductions for generics once patents expire, and was not indicating specific pricing plans for Sandoz's semaglutide.
The move comes as demand for weight-loss and diabetes drugs has surged globally, driven by their effectiveness in managing obesity and diabetes.
Last month, a top Biocon executive told Reuters that the biopharmaceutical company aims to launch generic copies of the blockbuster weight-loss drug Wegovy in Canada within the next two years.
(Reporting by Bipasha Dey and Surbhi Misra in Bengaluru; Editing by Nivedita Bhattacharjee and Janane Venkatraman)
