Dj Hims & Hers Stock Gains On Move Into Canada

By Peter Loftus

Shares of telehealth provider Hims & Hers were up more than 5% Thursday morning after the company said it started serving customers in Canada, a sign of its plan to capitalize on international demand for weight-loss drugs.

Hims & Hers said the move follows its acquisition of Livewell, a Canadian digital-health service focused on weight loss. The U.S. company also is expanding into Europe.

The company's entry into Canada will allow it to start selling generic versions of semaglutide, the active ingredient of Novo Nordisk's Ozempic and Wegovy, that are expected to become available when Novo Nordisk's Canadian patent expires next year.

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By Connor Hart

Hims & Hers Health is now serving customers in Canada, part of the telehealth platform's plan to expand its global footprint.

The San Francisco-based health-and-wellness platform said Thursday that its move into Canada will increase access to weight-management treatments. The expansion is expected to help accelerate the launch of Hims & Hers's comprehensive weight-loss program in the country next year.

"Our expansion into Canada is a direct response to critical public health needs, particularly around the obesity crisis," Chief Executive Andrew Dudum said. "This serves as a fundamental next step in delivering on our core promise: to democratize access to personalized, high-quality care."

Hims & Hers, which has existing operations in both the U.S. and Europe, said it expects to continue expanding into more specialties in Canada as demand for access to personalized healthcare continues to grow.

Shares rose 3.6%, to $38.40, in premarket trading.

Its entry into the country follows Hims & Hers's recent acquisition of Livewell, a Canadian digital-health platform focused on weight loss. It said Livewell co-founders Antoine Arbour and Patrick Duffy will join Hims & Hers's Canadian leadership team, alongside General Manager of Canada Austin Kouri and Chief Medical Officer in Canada Dr. Sandy Van.

Hims & Hers said its dedicated Canada-based management team underscores the company's commitment to localized leadership, understanding and specialized medical expertise.

Write to Connor Hart at connor.hart@wsj.com