Sandoz has received Health Canada's marketing authorization for its Semaglutide product, which is a generic version of Novo Nordisk's (NVO) Ozempic, according to a Friday statement.

The approval expands patient access to semaglutide treatment in Canada, Sandoz said.

Sandoz said the weekly injection is approved for adults with type 2 diabetes and will be offered in three strengths across two pen devices.

According to the company, the US Food and Drug Administration has also recently accepted its application for the in-house development of generic tirzepatide, and the Owozy semaglutide product, for which it holds commercial rights, has been approved in Brazil.

Sandoz said the approval will not alter its 2026 financial outlook, with no meaningful contribution from generic semaglutide expected this year.