Canadian business news: Apotex just posted a $100.8 million second quarter profit and lifted its outlook for the year, and the Apotex profit guidance raise shows how fast Canada’s largest drug maker is growing on the back of new generic launches.
Apotex earned $100.8 million in its second quarter, up from $82.9 million a year earlier, and raised its outlook for the year. The Apotex profit guidance raise lifts expected revenue growth to 9 to 10 per cent, with Canadian sales up about 14 per cent on new launches including generic Ozempic.
By Maplestime News Desk | Winnipeg, Manitoba | November 13, 2026
Sources: ADVFN, MoneySense | Last updated: November 13, 2026
Key Takeaways
- Second quarter profit of $100.8 million, up from $82.9 million a year earlier, on reported revenue of $852.9 million.
- Revenue in Canada rose about 14% to $413 million, helped by the first to market launch of semaglutide, generic Ozempic.
- Adjusted EBITDA excluding the U.S. VLLP contribution rose 19% to $280 million, with the margin up to 33% from 29%.
- Apotex raised fiscal 2027 guidance to revenue growth of 9 to 10%, up from 7 to 8%, and an adjusted EBITDA margin of about 31%.
- The company declared a dividend of $0.05 per share, payable December 29, 2026, to shareholders of record December 14, 2026.
What drove the Apotex profit guidance raise?
Apotex Health Corp., Canada’s largest pharmaceutical company, reported the results on November 12, 2026, for the quarter ended September 30, 2026. Profit amounted to 41 cents per diluted share, versus 43 cents a year earlier, when it had fewer shares outstanding. So profit rose while per share earnings slipped, because the profit is now spread across more shares. The company has 229 million common shares issued and outstanding as of September 30, 2026.
Reported revenue was $852.9 million, up from $843.5 million a year earlier. Excluding the U.S. contribution of the VLLP, generic Revlimid, revenue was $853 million, up 5%. Adjusted net income excluding the VLLP was $140 million, up 19% from $118 million.
The guidance lift is the headline. Apotex now expects revenue growth of 9 to 10%, up from 7 to 8%, and an adjusted EBITDA margin of about 31%, up from about 30%. A company raises its outlook when it expects the good run to keep going, and Apotex is signalling exactly that.
Related: P.E.I. Prescription Drugs 2026 — Ottawa and Province Put $32M Into Affordable Drug Coverage
How did Canada become the growth engine?
The Canadian business did the heavy lifting. Revenue in Canada rose about 14% to $413 million, helped by new product launches including the first to market launch of semaglutide, generic Ozempic. That is the kind of launch that changes a quarter, because a first to market generic captures demand fast.
CEO Jeff Watson said revenue growth accelerated to 5% and adjusted EBITDA rose 19%, with about 60 product launches year to date, 70% of them first to market. The pipeline is doing the work, not just one drug. Sixty launches in a year, most of them first to market, is a machine built for exactly this kind of quarter.
Pills and medicines on a pharmacy shelf. Photo: BuhaM, CC BY-SA 4.0, via Wikimedia Commons
What do investors get from here?
Shareholders get a dividend and a better outlook. Apotex declared a dividend of $0.05 per share on November 12, 2026, for shareholders of record December 14, 2026, payable December 29, 2026. The company also carries net debt of $2,274 million, which is worth watching, but the rising margin gives it room.
The open question is whether the launch pace holds. Generic Ozempic gave Apotex a strong quarter, and the guidance raise says management expects more of the same. For a Canadian drug maker built on generics, that is the story to watch into 2027.
Frequently Asked Questions
How much did Apotex earn in the second quarter?
Apotex reported a second quarter profit of $100.8 million, up from $82.9 million a year earlier, on reported revenue of $852.9 million.
Why did earnings per share fall while profit rose?
Profit rose, but earnings per share fell to 41 cents from 43 cents a year earlier because the company now has more shares outstanding, 229 million as of September 30, 2026.
When is the dividend paid?
The dividend of $0.05 per share was declared November 12, 2026, for shareholders of record December 14, 2026, payable December 29, 2026.
Inside a pharmaceutical laboratory. Photo: Tokumeigakarinoaoshima, CC BY-SA 4.0, via Wikimedia Commons
Maplestime will provide updates from Apotex and Canadian drug makers as announcements are made.
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Apotex is minting money on generic Ozempic while Canadians still pay plenty for prescriptions, so when do patients see the savings? Tell us in the comments. And share this with every Canadian who fills a prescription.
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