Hims and Hers Health (NYSE: HIMS) has launched generic semaglutide in Canada, capitalising on a rare Novo Nordisk patent lapse that opened the country’s GLP-1 market to lower-cost competition.
Health Canada recently approved the first generic semaglutide products in the G7, creating an immediate commercial opportunity that HIMS moved to exploit within days of the regulatory green light.
Personalised treatment plans are available through the Hims platform starting at C$149 per month, significantly below the C$200 to C$400 monthly cost range for branded Ozempic and Wegovy.
Nearly two-thirds of Canadian adults are overweight or living with obesity, but cost has historically been a major barrier to accessing weight-loss drug treatment in the country.
The Canadian launch marks Hims’ first international generic GLP-1 offering and is seen by analysts as a template for further international expansion as more markets open to semaglutide generics.
HIMS stock jumped 4% on May 21 to close at $24.01, marking its third consecutive session of gains, and rose an additional 1% in overnight trading after the Canada announcement.
The company also priced a $350 million offering of 0% convertible senior notes due 2032, raising capital to fund ongoing expansion of its health platform and GLP-1 partnerships.
Truist raised its HIMS price target to $23 from $18 following the string of positive developments, though the stock remains well below its 52-week high of $70.43 set in February 2025.
Hims previously struck a deal with Novo Nordisk earlier in 2026 to offer branded GLP-1 drugs including Wegovy and Ozempic directly through its US telehealth platform after resolving a patent infringement lawsuit over compounded semaglutide marketing.
