Biocon is getting ready for a big move in the weight-loss drug world. The Bengaluru-based company is planning to launch generic versions of Wegovy and Ozempic in Canada by 2026. These are blockbuster drugs made by Novo Nordisk, and they’re about to lose patent protection.
Siddharth Mittal, Biocon’s managing director, says Canada is their best shot to be first. “If everything goes well, we could get approval by 2026,” he told Bloomberg News.
This is a bold step for Biocon. It’s aiming to be one of the first companies to sell semaglutide generics – the main ingredient in Wegovy and Ozempic – once the patents expire in many countries next year.
Why Canada?
Canada is an open door. Novo Nordisk’s patent for semaglutide will expire early next year there. That gives Biocon a head start. Global players like Sandoz, Teva, and China’s Gan & Lee are also in the race. But Biocon wants to be the first to cross the finish line in Canada.
Mittal is confident. “Not many will make it by next year,” he said.
More Than Just Canada
Biocon isn’t stopping at Canada. It plans to sell GLP-1 drugs (the class of drugs Ozempic and Wegovy belong to) in Brazil, Mexico, Malaysia, Hong Kong, Australia, New Zealand, and of course, India.
“There’s a lot of room to grow,” Mittal said. “Many of these countries still don’t have enough access to such medicines.”
In fact, Biocon already made history by being the first company to get approval for generic liraglutide (another Novo drug) in the UK last year.
The Indian Scene
Novo launched Wegovy in India last month, following Eli Lilly’s Mounjaro. These drugs are designed to treat both obesity and diabetes. India has the third-largest obese population in the world – over 100 million people.
Biocon will soon start phase-3 trials for semaglutide in India and hopes to file for approval by the end of 2026. Rivals like Cipla and Torrent are also in the game.
“It’ll be a crowded market,” Mittal said. But Biocon is relying on its insulin-making experience to stay ahead.
The good news? Prices for generic Wegovy in India may not drop too much. Mittal believes the current pricing is already reasonable. He expects only about a 20% drop when generics hit, unlike the usual 90% crash.
Biocon is not just joining the global race – it wants to lead. With smart timing, global ambitions, and local know-how, it’s taking bold steps in a high-growth industry.
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