The era of cheap, officially approved semaglutide is finally here—in Canada, that is. The country has just become the first in North America and the first G7 nation to license a generic version of the popular weight loss and diabetes treatment. On Tuesday, Health Canada authorized an application for generic semaglutide submitted by the company Dr. Reddy’s Laboratories. This version, and others like it, will be significantly less expensive than the brand-name drugs currently sold by Novo Nordisk. Americans will probably have to wait at least half a decade before such products will be approved in the U.S., however. “The availability of generic drugs is expected to have a positive impact in Canada, including potential cost savings for patients and the healthcare system,” Health Canada stated in its announcement of the approval. A generic milestone Semaglutide is the active ingredient in the brand-name type 2 diabetes drug Ozempic and the obesity drug Wegovy.…