Hims & Hers Plans Canadian Expansion as Novo Nordisk’s Semaglutide Patent Nears Expiry

Hims & Hers Health Inc. announced on Wednesday that it will begin offering generic semaglutide treatments in Canada in 2026, following the expiration of Novo Nordisk’s patent protections on its popular weight-loss drugs, Ozempic and Wegovy.

The move marks the company’s first entry into the Canadian market and comes as a significant opportunity to deliver lower-cost alternatives to some of the world’s most in-demand obesity medications. Semaglutide belongs to a class of GLP-1 receptor agonists, which have recently surged in popularity for their ability to support weight loss and manage type 2 diabetes.

“Canada is a major opportunity to show what affordable, high-quality weight loss care can look like,” said Hims & Hers CEO Andrew Dudum in a press release. “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’s Canadian patent for semaglutide is set to officially expire in January 2026. However, filings with the Canadian Patent Database show the company failed to pay its annual maintenance fee after 2018 and missed the grace period to correct the lapse, resulting in the patent becoming unenforceable. Canadian authorities confirmed that once a patent has lapsed in this way, it cannot be revived.

The release of generic semaglutide opens the door for companies like Hims & Hers to offer lower-cost versions, potentially reshaping the Canadian weight-loss treatment landscape. The Canadian semaglutide market was valued at $1.18 billion in 2024 and is projected to surpass $4 billion by 2035, according to Grand View Research.

While no generic semaglutide treatments have yet been approved by Health Canada, some pharmaceutical companies have already submitted applications. Sandoz and Biocon are among those preparing to compete in the emerging space. Hims & Hers stated it is working with “an approved partner” and intends to follow all applicable regulations, though it has not confirmed whether it has filed for approval yet.

Hims & Hers’ announcement also follows its recent acquisition of the European telehealth platform Zava, extending its reach into markets such as France, Germany, and Ireland. The Canadian expansion is consistent with the company’s broader effort to grow internationally and diversify its product offerings.

The telehealth firm, which gained attention after airing a high-profile Super Bowl ad for its weight-loss offerings, has also faced controversy. Novo Nordisk ended its collaboration with Hims earlier this year, citing concerns over the company’s marketing of lower-cost alternatives to Wegovy, which Novo characterized as “deceptive.”

Nonetheless, industry analysts viewed the Canadian move positively.

“While the announcement doesn’t come as a surprise, it does reinforce the company’s ability to leverage generically-available products in new markets, diversify its revenue base, and extend its care model globally,” wrote Michael Cherny, an analyst at Leerink Partners.

Hims & Hers shares rose more than 6% following the announcement, reflecting investor optimism about the company’s potential to capitalize on generic availability and address unmet demand for affordable weight-loss care.

With input from CNBC and Bloomberg.