Ozempic (Novo Nordisk) is expected to face US generic competition from 2032. Novo guides to US compound patent expiry in 2032. Generics launched in India and Canada in 2026 as patents lapsed there. Sales DKK 127.1B.
Ozempic's US exclusivity date is based on company guidance. The date comes from the company's own filings or guidance. Secondary patents, new formulations or litigation can still move it. It is a peptide regulated as a drug rather than a biologic, so copies are generics. Peptides are harder to copy than typical pills, so generic uptake can be slower.
Ozempic was selected for the Medicare Drug Price Negotiation Program. Its negotiated Medicare price takes effect in 2027, 71% below its list price. That is 5 years before US generics can launch, so Medicare revenue comes under pressure first. The discount is measured against list price, before the rebates drugmakers already pay, and applies to Medicare only, so the revenue impact is smaller than the headline number.
Dr. Reddy's launched the first generic in Canada, after generics reached India in the first quarter. US protection runs to 2032. Dr. Reddy's
Ozempic is 41% of Novo Nordisk's 2025 revenue (≈$19.3B of $46.8B). Total sales DKK 309.1B.
Bars show each company's tracked drugs as a share of its total 2025 revenue. Ozempic is highlighted.