A Canadian entrant is lining up for the launch of Ozempic generics in 2026.
Boasting domestic manufacturing, ex-Novo Nordisk leadership and a market hungry for cheaper GLP-1s, Toronto start-up Vimy Pharma says it plans to produce a Canadian-made generic of Ozempic (semaglutide) as protections on the blockbuster diabetes/obesity drug unwind in Canada in early 2026.
Co-founder and CEO Dave Suchon told BNN Bloomberg the company intends to develop and manufacture domestically: “We’re going to be making it here in Canada… We’ve done our research and development here in Canada as well.”
The company says, “the potential is phenomenal.”
Novo Nordisk’s semaglutide products Ozempic and Wegovy have been blockbuster sensations as millions of people have sought them to treat type 2 diabetes, weight loss, obesity and other health conditions.
“We see benefits to blood glucose lowering, weight loss, of course, cardiovascular health, and they’re being studied for really, a myriad of other amazing, potential indications,” said Suchon.
In Canada, Ozempic’s eight-year data protection is scheduled to expire on January 4, 2026, opening the door for generic filings to receive market authorization.
A separate Canadian compound patent for semaglutide lapsed after Novo Nordisk failed to pay a routine $450 CAD maintenance fee in 2019. The loss permanently forfeited compound patent protection in Canada, an unusual scenario that removes a potential layer of exclusivity beyond 2026, clearing the path for generic competitors.
Vimy was founded by former Novo Nordisk Canada executives Dave Suchon and Farris Smith, who helped bring Ozempic to Canada. The duo has now positioned Vimy as a home-grown supplier for GLP-1 demand.
The company’s name is a nod to the Battle of Vimy Ridge in the First World War, reflecting a connection to Canada’s medical heritage. The founders were also especially inspired by the 1921 insulin breakthrough by Frederick Banting and Charles Best with John Macleod and James B. Collip.
The company also recently announced a partnership with Wounded Warriors Canada, underscoring a “made in Canada” and “support Canada” branding. Vimy will donate a percentage of its profits to support Wounded Warriors Canada’s mental health counselling programs benefiting Trauma Exposed Professionals (TExP) and their families.
Canadian retail sales of Ozempic and Wegovy could reach $3 billion annually, according to Suchon, with close to 1 million Canadians already using GLP-1 drugs, a base that could grow by several million as prices fall with competition.
Vimy Pharma has secured multimillion-dollar backing from investors, including K2 & Associates Investment Management Inc. The company plans to manufacture domestically through a partnership with Applied Pharmaceutical Innovation (API) in Edmonton, which has received $98 million in government funding.
Related: FDA Approves New Use for Ozempic to Reduce the Risks of Kidney Disease
Vimy will not be alone. Global generics players have publicly signalled Canadian launches of semaglutide as soon as protections lift, with Sandoz telling the Financial Times it is targeting prices up to 70% lower than current levels once patents/data protection expire in Canada in January 2026.
Hikma and other manufacturers have likewise said they are preparing GLP-1 generics for markets where exclusivities are set to expire starting next year. While Hikma does not have a semaglutide (Ozempic) generic, it did receive FDA approval in December 2024 for a generic of Novo Nordisk’s related GLP-1, Victoza (liraglutide). While Hikma does not have a semaglutide (Ozempic) generic, it did receive FDA approval in December 2024 for a generic of Novo Nordisk’s related GLP-1, Victoza (liraglutide).
If multiple competitors enter quickly, Canadian list prices for semaglutide could reset materially, improving access for type 2 diabetes and obesity while easing pressure on public and private plans.
Policymakers and pharmacists have warned that price differentials with the US might spur cross-border demand from American buyers and stress Canadian supply.
Vimy’s pitch of local R&D and manufacturing, Canadian leadership and a message of affordability, fits the moment. Whether it converts into meaningful market share will hinge on execution and how quickly heavyweights like Sandoz bring their own semaglutide products to pharmacy shelves.
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