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Novo Nordisk CDR (CAD Hedged)
Symbol NOVO
Shares Issued 1,050,000
Close 2026-04-02 C$ 16.16
Market Cap C$ 16,968,000
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Globe says Novo Nordisk cuts prices in India

2026-04-06 07:34 ET - In the News

The Globe and Mail reports in its Saturday, April 4, edition that a surge of generic GLP-1 drugs in India, following the patent expirations of Novo Nordisk's Ozempic and Wegovy, has sparked a price war. The Globe's guest columnist Neha Bhatt writes that over 50 low-cost versions are set to launch soon, with prices 60 per cent to 90 per cent lower than international brands. In response, Novo Nordisk has cut the prices of Ozempic and Wegovy in India by 36 per cent to 48 per cent. The sudden availability of so many cheap generics has raised concerns about malpractice and misuse of the drugs. The Drugs Controller General of India has stepped up surveillance of the unauthorized sale and promotion of GLP-1 drugs through retail pharmacies, on-line platforms, wholesalers and wellness clinics, warning that non-compliance will result in the cancellation of licences, fines and legal action. GLP-1 drugs in India can only be prescribed by endocrinologists, internal medicine specialists and cardiologists, and cannot be bought over the counter, says a government advisory. In Canada, patents expired in January for Ozempic and Wegovy, making generic medications legal, however, Health Canada has yet to approve any generic versions.

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