Toronto, Ontario — February 2, 2026 — Leads & Copy — PharmaTher Holdings Ltd. is set to pursue Health Canada approval for generic semaglutide and its subsequent commercialization. Semaglutide serves as the active ingredient in Ozempic® and Wegovy®.
This strategic initiative builds upon PharmaTher’s regulatory and partnering record, including its U.S. FDA approval of ketamine and the monetization of U.S. rights, potentially exceeding US$25 million.
In January 2026, regulatory exclusivity for semaglutide in Canada expired, paving the way for generic competition and drawing attention to Canada as an early major market.
Ozempic® sales in Canada were estimated at approximately C$2.9 billion in 2025, according to IQVIA Canada. Industry estimates suggest the broader GLP-1 receptor agonist market in Canada could reach approximately US$6.5 billion by 2033, driven by increasing demand, according to Grand View Research.
PharmaTher’s strategy aims to position itself as an early supplier of generic semaglutide in Canada, pending regulatory approval. The plan includes pursuing Health Canada approval in 2026, offering broad dose coverage from 0.25 mg to 2.4 mg, and leveraging a cost-effective, high-quality commercial sterile injectable manufacturer.
The company’s focus includes scaling injectable capabilities to support long-term semaglutide supply reliability and enable future global partnerships.
Fabio Chianelli, Founder, Chairman and CEO of PharmaTher, stated that Canada’s semaglutide market is entering a pivotal transition where affordable access and reliable supply will be crucial.
Chianelli added that the company is applying its FDA approval execution playbook to pursue Health Canada approval for generic semaglutide and build a scalable sterile injectable platform for the obesity and diabetes market.
Ozempic® and Wegovy® are registered trademarks of Novo Nordisk A/S. Use of these trademarks is for identification purposes only and does not imply affiliation, sponsorship, or endorsement.
PharmaTher Holdings Ltd. (CSE: PHRM) (OTCQB: PHRRF) is focused on developing, acquiring, and commercializing pharmaceutical products and enabling technologies.
Source: PharmaTher Holdings Ltd.
