Generic semaglutide push could reshape obesity drug costs for Canadian benefit plans
Nearly two-thirds of adults in Canada are overweight or living with obesity, and a new telehealth entrant wants to sell them lower-cost weight-loss drugs, including generic semaglutide, once they arrive.
According to the Financial Post, Hims & Hers Health, Inc. has entered the Canadian market by acquiring Livewell, an online telehealth platform focused on weight loss, and plans to officially launch its platform in Canada next year.
Hims & Hers is timing its launch to align with what it calls the first anticipated availability of generic semaglutide anywhere in the world.
Semaglutide, popularized by the brand Ozempic and used in the treatment of type 2 diabetes, has been widely prescribed as an anti-obesity medication.
The company said in July that branded semaglutide with no surrounding clinical support currently costs more than $200 a month in Canada, and that the price for generic semaglutide is expected to be at a significant discount to the branded versions and will lower over time, reported the Financial Post.
Hims & Hers first announced its Canadian expansion in early July as Danish pharmaceutical giant Novo Nordisk is set to lose Canadian patent protection on its semaglutide-based drugs Ozempic and Wegovy after apparently failing to pay a small fee to maintain the patent.
The Canadian Patent Database shows the patent, first issued in 2013, is now “expired and beyond the period of reversal,” and a report by Science said the company last paid the annual maintenance fee in 2018, when it was $250.
Meanwhile, Novo Nordisk will hold the patent in the United States until at least 2032, as per the Financial Post.
“Our expansion into Canada is a direct response to critical public health needs, particularly around the obesity crisis,” Andrew Dudum, co-founder and chief executive of Hims & Hers, said in a press release.
The Wall Street Journal reported that the company sees a substantial unmet medical need in Canada, where adults who are overweight or living with obesity face high costs and limited treatment availability.
