There’s a new entrant in the race to offer Canadians generic Ozempic.
What happened: Hims & Hers, the U.S. telehealth provider known for lower-price (some might say knock-off) weight-loss drugs, entered the Canadian market through an acquisition of Livewell. The firm will also focus on obesity products in Canada, seizing a big opportunity.
Why it’s happening: In January, Canada will become the first major market where Novo Nordisk’s patent expires for semaglutide, the compound that gives Ozempic and Wegovy their magic. That means a rush of generic semaglutide drugs is percolating as we speak.
Several drugmakers, including Sandoz Group and Hikma Pharmaceuticals, announced this year they were working on bringing generic semaglutide to market.
Due to Health Canada backlogs, these products won’t be approved right away, with Hims & Hers’s CEO predicting a “competitive market” by the end of 2026.
Why it matters: With the potential to shrink prices from $218 per month to $76, semaglutide is about to become a whole lot more accessible to a nation with high obesity levels. Hims & Hers — alongside established firms like Felix and Maple — will be there to capitalize.
Also worth noting: Novo deliberately let its patent lapse after failing to pay a $250 fee. The theory is Novo didn’t bother because the patent was due to lapse in early 2026 anyway. However, IP lawyer Steven Shapes pointed out that if Novo did its due diligence and paid that relatively paltry sum, it could have extended protection until March 2028. Oops!