Felix Health offering generic semaglutide to clients across Canada
· Toronto Sun
A major Canadian online health-care platform is providing its customers with access to lower-cost semaglutide, a drug prescribed to treat people with Type 2 diabetes and used by many for weight loss.
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Best known under the brand names Ozempic and Wegovy, Health Canada recently approved the first two generic versions of the GLP-1 drug.
Felix Health said on Thursday that the lower-cost semaglutide will be priced at $150 a month across Canada.
Recently, the company said it has seen nearly 15,000 people register for its waiting list for the drug that’s used weekly to help manage blood-sugar levels.
Two generic versions approved
On April 28, Health Canada announced its decision to approve the first generic semaglutide injection by India-based Dr. Reddy’s Laboratories, making Canada the first G7 country to greenlight a generic version of the drug.
Health Canada said it authorized the drug after a thorough review of evidence provided by the company, demonstrating that the drug met its criteria for safety, efficacy and quality for generic drugs.
Then on May 1, the federal regulator approved the second generic semaglutide by Toronto-based pharmaceutical company Apotex Inc.
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Brand name vs. generic pricing
According to Health Canada, many generic medications are 45% to 90% cheaper than brand-name versions.
The price for brand-name Ozempic treatments varies by province and provider with the average cost of injections ranging between $200 to $450 per month, according to Felix Health, though the company said it’s offering lower-cost pricing to existing Ozempic patients with the launch of the generic semaglutide.
Experts believe the cost of the drug will gradually decrease as more generic versions are approved.
Seven other applications for generic versions of the drug are still under review by Health Canada.