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Investing.com -- Hims & Hers Health (NYSE:HIMS) stock rose 2% on Wednesday after the digital health platform announced plans to expand into Canada in 2026, coinciding with the anticipated first global availability of generic semaglutide.
The company’s entry into the Canadian market will align with the introduction of generic versions of the popular weight loss medication, potentially offering significant cost savings compared to branded alternatives. In Canada, where nearly two-thirds of adults are overweight or living with obesity, branded semaglutide without clinical support currently costs over C$200 monthly, while generic versions are expected to be available at a substantial discount.
This expansion follows Hims & Hers’ recent acquisition of ZAVA, a European digital health platform, as part of its international growth strategy. The company plans to offer lower-cost treatment options through its digital platform, combined with 24/7 access to licensed providers and personalized care plans.
"Canada is a major opportunity to show what affordable, high-quality weight loss care can look like," said Andrew Dudum, co-founder and CEO of Hims & Hers. "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."
The company views the Canadian expansion as a significant opportunity to advance its mission of broadening healthcare access, particularly in North America’s largest GLP-1 market where many still lack access to effective obesity treatments.
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