Telehealth platform Hims & Hers Health (HIMS) has announced plans to launch its affordable weight loss program in Canada in 2026, marking its first entry into the country. The move coincides with the anticipated global launch of generic semaglutide, a lower-cost alternative to Novo Nordisk’s (NVO) weight loss drugs, such as Ozempic and Wegovy. Following the news, HIMS stock gained about 1.5% on Wednesday morning.
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CEO Andrew Dudum called Canada a “major opportunity.” About two-thirds of Canadian adults are overweight or obese, and often face high costs and limited access to effective treatments.
Branded semaglutide, a proven weight loss medication, has historically been expensive as it costs over C$200 a month and often lacks medical support.
Thus, Hims & Hers plans to use its digital platform to offer an affordable option, generic semaglutide. In addition, HIMS will provide 24/7 access to healthcare providers and custom care plans based on medical evidence.
HIMS Global Expansion Moves
The move comes after the recent acquisition of ZAVA, a digital health platform in Europe with a presence in Ireland, France, and Germany. This move is part of Hims & Hers’ efforts to grow its international presence.
By teaming up with ZAVA, Hims & Hers is expanding its offerings in dermatology, mental wellness, and weight management across multiple languages and healthcare systems. The company’s CEO sees this expansion as a way to “redefine accessible care at scale.”
Overall, these expansion moves help the company strengthen its position as an international telehealth brand.
Is HIMS Stock a Good Buy?
Turning to Wall Street, HIMS stock has a Hold consensus rating based on one Buy, eight Holds, and two Sells assigned in the last three months. At $39.22, the average Hims & Hers stock price target implies a 20.69% downside potential.
