Eli Lilly Cuts Mounjaro and Zepbound Prices in Canada: New 2026 Pricing
Effective December 29, 2025, Eli Lilly reduced the Canadian list prices for both Mounjaro and Zepbound — its two tirzepatide-based injectable products. The new prices represent a meaningful decrease from the post-KwikPen switchover levels, though they remain above the prices Canadians paid when vials were still available.
This post covers the factual pricing changes, the regulatory context behind them, and how the new Mounjaro and Zepbound prices compare to other GLP-1 products available in Canada.
What Changed: New Canadian List Prices
Eli Lilly filed updated list prices with Canadian regulators, effective December 29, 2025. The new prices apply to all Mounjaro and Zepbound KwikPen presentations sold in Canada. Actual pharmacy prices may vary by location, province, and dispensing fees, but the manufacturer list price is the baseline that pharmacies use.
Here is the new pricing structure, shown in Canadian dollars per 4-week (28-day) supply:
| Dose | New List Price (CAD / 4 weeks) |
|---|---|
| 2.5 mg | ~$300 |
| 5 mg | ~$300 |
| 7.5 mg | ~$420 |
| 10 mg | ~$420 |
| 12.5 mg | ~$540 |
| 15 mg | ~$540 |
Prices shown are approximate manufacturer list prices in CAD per 4-week supply. Actual pharmacy prices may differ. GLP1Prices.ca publishes verified pharmacy-level prices on our Mounjaro and Zepbound price comparison pages.
Context: The KwikPen Switchover Controversy
To understand why these price cuts matter, it helps to know what preceded them. In 2025, Eli Lilly discontinued the multi-dose vial presentations of Mounjaro and Zepbound in Canada and transitioned exclusively to KwikPen pre-filled injector pens.
The vials had been the more affordable option. When they were removed from the market, Canadians purchasing tirzepatide were left with only the KwikPen format, which carried a significantly higher price. The switch effectively raised the cost of tirzepatide for many Canadian purchasers, particularly those paying out-of-pocket.
The December 2025 price reduction partially addresses the gap created by the KwikPen transition. However, the new KwikPen prices remain above the per-dose cost that was available when vials were on the market.
Why Eli Lilly Cut Prices Now
Two regulatory and competitive factors converged in late 2025, creating pressure on Eli Lilly to reduce Canadian tirzepatide pricing:
1. New PMPRB Guidelines (January 1, 2026)
Canada’s Patented Medicine Prices Review Board (PMPRB) — the federal body that regulates the maximum prices pharmaceutical companies can charge for patented drugs — implemented updated pricing guidelines effective January 1, 2026. The new framework changes how ceiling prices are calculated for patented medicines sold in Canada.
Pharmaceutical manufacturers typically adjust their list prices ahead of new PMPRB guidelines to ensure compliance. Eli Lilly’s December 29 price cut — just days before the new rules took effect — aligns with this pattern.
2. Incoming Generic Semaglutide Competition
While tirzepatide itself does not face imminent generic competition in Canada, the broader GLP-1 market is about to change significantly. Novo Nordisk’s semaglutide data exclusivity expired on January 4, 2026, and nine generic semaglutide submissions are currently under review at Health Canada, with approvals expected as early as Q3 2026.
Generic semaglutide is estimated to cost approximately $60–$100 per month once multiple manufacturers compete. This would create a substantially cheaper alternative in the same drug class, putting pricing pressure on all branded GLP-1 products — including tirzepatide.
By reducing Mounjaro and Zepbound prices now, Eli Lilly is positioning tirzepatide more competitively ahead of this market shift. For more on the generic timeline, see our post on Generic Semaglutide in Canada: 2026 Timeline and Expected Prices.
How New Mounjaro/Zepbound Prices Compare to Other GLP-1 Products
With the December price cut, tirzepatide products now sit at a more competitive price point relative to other branded GLP-1 injectables available in Canada. Here is a side-by-side comparison using approximate monthly costs:
| Product | Active Ingredient | Approx. Monthly Cost (CAD) | Status |
|---|---|---|---|
| Mounjaro / Zepbound (2.5–5 mg) | Tirzepatide | ~$300 | New price effective Dec 29, 2025 |
| Mounjaro / Zepbound (7.5–10 mg) | Tirzepatide | ~$420 | New price effective Dec 29, 2025 |
| Mounjaro / Zepbound (12.5–15 mg) | Tirzepatide | ~$540 | New price effective Dec 29, 2025 |
| Ozempic | Semaglutide | ~$300–$400 | Available at Canadian pharmacies |
| Wegovy | Semaglutide | ~$400–$500 | Available at Canadian pharmacies |
At the lower dose tiers (2.5 mg and 5 mg), Mounjaro and Zepbound are now priced comparably to Ozempic. At higher doses, tirzepatide remains more expensive than semaglutide options, though the gap has narrowed with this price cut.
How They Compare to Expected Generic Semaglutide Prices
The upcoming generic semaglutide market represents a different price tier entirely. Based on historical Canadian generic pricing patterns, generic semaglutide is expected to cost approximately $60–$100 per month once multiple manufacturers are competing, with initial approvals expected in Q3 2026.
| Product | Approx. Monthly Cost (CAD) | Availability |
|---|---|---|
| Mounjaro / Zepbound (lowest dose) | ~$300 | Available now (new price) |
| Ozempic (branded semaglutide) | ~$300–$400 | Available now |
| Generic semaglutide (estimated) | ~$60–$100 | Expected Q3 2026 |
Even at the reduced prices, branded tirzepatide costs roughly 3–5 times the estimated generic semaglutide price. For Canadians paying out-of-pocket who are prescribed a drug in this class, the generic semaglutide option — once available — will represent a substantially different price point.
Impact on Insurance Formulary Decisions
The price reduction may influence how provincial drug plans and private insurers evaluate tirzepatide for formulary listing. Several considerations are in play:
- Provincial formulary reviews — Provincial drug plans assess cost-effectiveness when deciding whether to list a product. A lower list price improves the cost-effectiveness ratio that formulary committees evaluate, potentially accelerating or enabling listing decisions that were previously unfavourable at the higher KwikPen price.
- Private insurance plans — Many private insurers base their coverage and tier placement decisions on the manufacturer list price. A lower base price may result in lower co-pays for patients on plans that already cover tirzepatide, and may make coverage more likely for plans that had excluded it on cost grounds.
- Pan-Canadian Pharmaceutical Alliance (pCPA) — The pCPA negotiates drug prices on behalf of participating public drug plans. List price reductions can affect the starting point of these negotiations, though final negotiated prices are confidential.
Insurance coverage decisions are made by individual plans and formulary committees. Patients should check with their specific insurer or provincial drug plan for current coverage status.
Key Dates
| Date | Event |
|---|---|
| 2025 (mid-year) | Eli Lilly discontinues Mounjaro/Zepbound vials in Canada; KwikPen becomes only option |
| Dec 29, 2025 | New reduced list prices for Mounjaro and Zepbound KwikPen take effect |
| Jan 1, 2026 | Updated PMPRB pricing guidelines take effect |
| Jan 4, 2026 | Semaglutide data exclusivity expires in Canada |
| Q3 2026 (est.) | First generic semaglutide approvals expected |
Compare Prices and Stay Updated
GLP1Prices.ca tracks verified pharmacy prices for Mounjaro, Zepbound, and other GLP-1 products across Canadian pharmacies. Prices are confirmed with specific pharmacies on specific dates — we do not publish estimated or manufacturer-suggested prices as pharmacy prices.
To compare current tirzepatide prices across pharmacies and provinces, visit our Mounjaro price comparison and Zepbound price comparison pages.
To be notified when generic semaglutide prices are available — or when significant pricing changes occur for any GLP-1 product in Canada — sign up for our price alert. We send one email when prices go live — no ongoing marketing.
Frequently Asked Questions
How much does Mounjaro cost in Canada now?
As of December 29, 2025, Eli Lilly’s new list prices for Mounjaro KwikPen in Canada are approximately $300/month for the 2.5 mg and 5 mg doses, $420/month for the 7.5 mg and 10 mg doses, and $540/month for the 12.5 mg and 15 mg doses (all per 4-week supply). Actual pharmacy prices may vary. See our Mounjaro price page for verified pharmacy pricing.
Why did Mounjaro prices go up before this cut?
In 2025, Eli Lilly discontinued the multi-dose vial format of Mounjaro and Zepbound in Canada and transitioned exclusively to KwikPen pre-filled injectors. The KwikPen format carried a higher list price than the vials, effectively raising costs for Canadian purchasers. The December 2025 price cut partially reverses that increase.
Is Mounjaro now cheaper than Ozempic?
At the lowest dose tiers (2.5 mg and 5 mg), the new Mounjaro list price (~$300/month) is comparable to Ozempic pricing (~$300–$400/month depending on pharmacy and dose). At higher tirzepatide doses (7.5 mg and above), Mounjaro remains more expensive than Ozempic. Actual pharmacy prices vary — compare both on GLP1Prices.ca.
Will generic tirzepatide be available in Canada?
As of February 2026, no generic tirzepatide submissions have been publicly announced for Canada. Tirzepatide’s regulatory exclusivity timeline differs from semaglutide’s. Generic semaglutide (a different GLP-1 drug) is expected in Canada by Q3 2026, but generic tirzepatide is further out.
Does insurance cover the new lower price?
Insurance coverage and co-pay amounts depend on your specific plan and province. The lower list price may affect co-pay calculations for plans that already cover tirzepatide, and may influence future formulary listing decisions. Check with your insurer for current coverage details.
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