Novo Nordisk

Note: This is a daily stock update and the information stands true as of 10/03/25, 09:00 CET.

Company Update: According to an FT article, Hikma, along with its partners, is preparing to launch generic versions of Novo’s multi-blockbuster drugs Ozempic (diabetes) and Wegovy (obesity), as these drugs lose patents in some countries (China, Canada, India and Brazil) in 2026. However, for the US and Europe, these medicines are patent-protected until 2031-32. Usually, generic medicines tend to be 50-80% cheaper than the original drug. Since Ozempic and Wegovy are hugely popular drugs and the obesity rates have been increasing in many parts of the world, the patent expiry of these medicines should be a massive opportunity for generic drugmakers. Having said that, the competition should be nothing short of intense in this area. Even Sandoz is targeting a launch of generic semaglutide (underlying molecule behind Ozempic and Wegovy) in Canada and Brazil by 2026.

While launches in other parts of the world may bring volumes for generic medicine makers, a sizeable part of the value for these drugmakers should come from the launches in the US and EU, which is still some years away.

Interested in reading an expert opinion given by AlphaValue? Read the full blog or Subscribe to our daily updates on AlphaValue website.

For more information, please contact AlphaValue Sales Team at [email protected]

AlphaValue, founded in 2007 by Pierre-Yves Gauthier and André Le Grand, has become the leading provider of independent European equity and credit risk research. We offer agnostic analysis of business models and valuations, helping clients assess their investment risks and opportunities.