Hims & Hers Expands into Canada as Generic Semaglutide Market Opens Up

Hims & Hers, the online health and wellness company, is set to expand its digital weight loss program to Canada, capitalizing on the upcoming availability of generic semaglutide drugs. This move comes as Novo Nordisk's patent protection for its branded semaglutide drugs, Ozempic and Wegovy, is set to expire in Canada in January 2026, paving the way for generic versions as early as next year.

Canadian Market Entry and Generic Semaglutide Opportunity

Hims & Hers' expansion into Canada follows its recent acquisition of Zava, a European digital health platform. The company plans to offer access to lower-cost generic semaglutide treatment options through its digital platform, coupled with 24/7 access to licensed providers and personalized care plans.

The introduction of generics is expected to significantly impact the Canadian market, where almost two-thirds of adults are overweight or living with obesity. Currently, branded semaglutide without clinical support costs over 200 Canadian dollars per month. Hims & Hers anticipates offering generic semaglutide "at a significant discount to the branded versions, with prices expected to lower over time."

Andrew Dudum, CEO of Hims & Hers, stated, "Canada is a major opportunity to show what affordable, high-quality weight loss care can look like. As generic semaglutide becomes available for the first time globally, we're focused on making it truly accessible, by combining affordability with trusted, personalized care at scale."

Novo Nordisk Patent Expiration and Industry Implications

Novo Nordisk's loss of patent protection in Canada is due to the company's failure to pay maintenance fees on its patent filing. This development has opened the door for generic manufacturers like Sandoz and Apotex, who are expected to launch their versions of semaglutide in Canada next year.

The situation in Canada contrasts with the ongoing patent protection for Ozempic and Wegovy in other markets, including the United States. This regional difference in patent status creates a unique opportunity for companies like Hims & Hers to enter the Canadian market with generic offerings while branded versions remain protected elsewhere.

Hims & Hers' Strategic Expansion and Industry Dynamics

The expansion into Canada is part of Hims & Hers' broader growth strategy, which includes both organic growth and strategic investments to expand category leadership and global reach. The move comes after a recent setback in the company's relationship with Novo Nordisk, which abruptly ended a collaboration to make Wegovy available on Hims & Hers' platform.

Novo Nordisk cited concerns about Hims & Hers selling and promoting compounded GLP-1 drugs, which are more affordable versions of popular weight loss medications. However, Hims & Hers CEO Andrew Dudum refuted these claims, asserting that the company aims to offer patients a range of options for weight loss medications.

The Canadian expansion reinforces Hims & Hers' ability to leverage generically-available products in new markets, diversify its revenue base, and extend its care model globally. While this move is seen as a potential incremental revenue driver, industry analysts note that execution and uptake will be key factors to watch, particularly in light of the uncertainties surrounding the U.S. weight management franchise.