Key insights
- Hims & Hers stock rose following the launch of generic semaglutide in Canada. This expands access to GLP-1 treatments for weight management, potentially increasing revenue. While the direct impact on the US market is limited, it signals HIMS's growth strategy and ability to capitalize on generic drug opportunities, which could translate to future US initiatives.
Investing.com -- Hims & Hers Health Inc. (NYSE:HIMS) shares rose 3.9% Thursday after the company announced the availability of generic semaglutide through its platform for eligible customers in Canada.
The health and wellness platform said personalised treatment plans are available starting at $149 per month CAD, pairing medication with unlimited Care Team support, nutrition and lifestyle guidance, and Canadian medical expertise.
Generic semaglutide is authorized for sale by Health Canada for the management of Type 2 diabetes and may be prescribed off-label for weight management in a licensed healthcare provider’s clinical judgment. Nearly two-thirds of Canadian adults are overweight or living with obesity, but cost has remained a barrier to accessing GLP-1 treatments, according to the company.
"Generics have always played a critical role in expanding access to medicines that change lives," said Dr. Sandy Van, Obesity Medicine Specialist and Chief Medical Officer at Hims & Hers Canada. "Today marks a turning point: more choice, lower costs, and a genuine commitment to care built around the whole patient."
The company said eligible customers in Canada will have access to personalised care plans that may include GLP-1 options, alongside ongoing Care Team access and evidence-informed resources focused on nutrition, movement, and sleep. All Canadian customers are connected with Canadian providers.
Austin Kouri, General Manager at Hims & Hers Canada, said bringing generic semaglutide to market means more Canadians have an affordable path to treatment. Hims & Hers Canada Inc. does not currently offer access to treatment services for Type 2 diabetes.
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