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Latin America

Novo Nordisk Loses Share in Brazil Amid Generic Competition

Novo Nordisk faces declining sales in Brazil as generic drugs gain traction.

New York Editorial News Desk November 4, 2026 1 min read

The Brief

  • Novo Nordisk's semaglutide patent expired in Brazil, leading to a 3% sales drop in emerging markets.
  • CEO Mike Doustdar noted Brazil's competitive pricing environment and Novo's struggle to retain market share.
  • Sales in Europe and Canada rose 19%, while India saw some share loss but not as severe as feared.

Novo Nordisk reported a 3% contraction in third-quarter emerging market sales, primarily due to the expiration of its semaglutide patent in Brazil. The loss of patent protection allowed cheaper generic alternatives to enter the market.

CEO Mike Doustdar stated that Brazil's market is highly price-sensitive, with multiple competitors vying for market share. He acknowledged that Novo is struggling in the country, losing ground to lower-cost options.

Despite the challenges in Brazil, Novo Nordisk maintained strong performance in Europe and Canada, where sales grew by 19% in the third quarter. Officials noted that generic drugmakers in Canada have faced supply issues and delays, which could affect market dynamics.

In India, Novo Nordisk experienced some loss of market share, but the CEO said the decline was less severe than feared. He explained that while generic rivals offered significantly lower prices, Novo chose to keep its prices higher, relying on brand reputation and product quality to retain customers.

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