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That's $450.00, as in I can pull that out of an ATM pretty much any time. Not $450 million. A little under five hundred bucks, and they lost their lock on their second largest market.
The Slashdot summary says it best:
"Pharmaceutical giant Novo Nordisk forfeited patent protection for semaglutide -- the active ingredient in blockbuster diabetes and weight loss drugs Ozempic and Wegovy -- in Canada after failing to pay a $450 maintenance fee in 2019. The company had paid maintenance fees through 2018 but requested a refund for the 2017 fee, apparently seeking more time to decide whether to continue protecting the patent.
When the 2019 fee came due at $450 with late penalties, Novo never paid despite having a one-year grace period. Canadian patent authorities confirmed the patent "cannot be revived" once lapsed. The oversight is particularly costly given Canada represents the world's second-largest semaglutide market, worth billions annually. Generic drugmaker Sandoz plans to launch a competing version in early 2026, while Novo's U.S. patent protection extends until at least 2032.
WOW. That's certainly going to tarnish some board member's CV. But it's going to make a bunch of Canadian's a lot thinner!
https://www.science.org/content/blog-post/novo-nordisk-s-canadian-mistake
https://science.slashdot.org/story/25/06/16/1438211/novo-nordisk-loses-canadian-patent-protection-for-blockbuster-diabetes-drug-over-unpaid-450-fee
The Slashdot summary says it best:
"Pharmaceutical giant Novo Nordisk forfeited patent protection for semaglutide -- the active ingredient in blockbuster diabetes and weight loss drugs Ozempic and Wegovy -- in Canada after failing to pay a $450 maintenance fee in 2019. The company had paid maintenance fees through 2018 but requested a refund for the 2017 fee, apparently seeking more time to decide whether to continue protecting the patent.
When the 2019 fee came due at $450 with late penalties, Novo never paid despite having a one-year grace period. Canadian patent authorities confirmed the patent "cannot be revived" once lapsed. The oversight is particularly costly given Canada represents the world's second-largest semaglutide market, worth billions annually. Generic drugmaker Sandoz plans to launch a competing version in early 2026, while Novo's U.S. patent protection extends until at least 2032.
WOW. That's certainly going to tarnish some board member's CV. But it's going to make a bunch of Canadian's a lot thinner!
https://www.science.org/content/blog-post/novo-nordisk-s-canadian-mistake
https://science.slashdot.org/story/25/06/16/1438211/novo-nordisk-loses-canadian-patent-protection-for-blockbuster-diabetes-drug-over-unpaid-450-fee
