Stock Track | Hims & Hers Health Soars 5.63% on Planned Canadian Expansion and Generic Semaglutide Launch

Stock Track2025-07-09

Hims & Hers Health Inc. (HIMS) saw its stock soar 5.63% in Wednesday's trading session following the company's announcement of its planned expansion into Canada in 2026. The digital health and wellness platform's strategic move is timed with the anticipated first-ever availability of generic semaglutide in the country, marking a significant step in expanding access to affordable weight loss care.

The expansion plan, which follows the recent acquisition of European digital health platform ZAVA, aims to address the high cost and limited availability of branded semaglutide in Canada. Hims & Hers intends to offer more affordable generic options through its digital platform, coupled with 24/7 access to licensed providers and personalized care plans. This move targets Canada's weight management market, where approximately two-thirds of adults are overweight or living with obesity.

Andrew Dudum, co-founder and CEO of Hims & Hers, emphasized the significance of this expansion, stating, "Canada is a major opportunity to show what affordable, high-quality weight loss care can look like." The company's entry into the Canadian market not only demonstrates its commitment to bringing care to underserved markets but also reflects its growth strategy leveraging both organic expansion and strategic acquisitions. Investors appear optimistic about the potential impact on the company's future growth and market position in the digital health sector.

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