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Apotex Health Secures Approval for Generic Semaglutide for Weight Management

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Apotex Health (APTX.TO) after trade Tuesday said it is the first company to receive Health Canada approval for a generic equivalent of Wegovy (semaglutide injection) for chronic weight management in adults.

The new medication, SEVMIA (semaglutide injection), is supplied as a multi-use pre-filled pen delivering 1 mg doses, the company added.

"This approval follows Health Canada's recent approval of Apo-Semaglutide Injection, and reflects Apotex's continued focus on bringing high-quality, affordable medicines to Canadians," the company said, adding that SEVMIA was developed in partnership with Orbicular Pharmaceutical Technologies.

SEVMIA is approved for use alongside a reduced-calorie diet and increased physical activity to help adults with obesity or those who are overweight with at least one weight-related health condition manage their weight. It is also approved to reduce the risk of non-fatal myocardial infarction in adults with cardiovascular disease who are overweight or have obesity, according to the statement.

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