Hims & Hers merchandise proven.
Him and her
Beginning up digital pharmacies His and her well being is introducing entry to compounded GLP-1 injections for weight reduction, the corporate introduced Monday.
The corporate’s shares closed down greater than 27% on Monday.
The corporate, which provides a variety of direct-to-consumer remedies for situations corresponding to erectile dysfunction and hair loss, launched a weight reduction program in December. However GLP-1 medicine – corresponding to Ozempic and Wegovy, which have soared in recognition – weren’t beforehand provided as a part of that program.
Clients can entry the compounded GLP-1 drugs via a prescription from a licensed healthcare supplier on the Hims & Hers platform. Hims & Hers mentioned it plans to make branded GLP-1 drugs accessible to its clients as soon as the availability is persistently accessible.
The corporate’s oral treatment kits begin at $79 per thirty days, and its compounded GLP-1 injections begin at $199 per thirty days.
Even earlier than it added compounded GLP-1s to its portfolio, Hims & Hers mentioned in its fourth-quarter earnings report that it expects its weight-loss program to generate greater than $100 million in income by the top of 2025. The corporate plans to supply up to date steerage in its subsequent earnings report.
The GLP-1 market, till now dominated by pharmaceutical big Novo Nordiskhas confronted provide constraints in latest months as its medicine obtain expanded approval from well being regulators and expanded well being care protection.
GLP-1s mimic a hormone produced within the intestines to suppress an individual’s urge for food and regulate blood sugar ranges. If there’s a scarcity of these drugs, sure producers can put together a compounded model in the event that they meet U.S. Meals and Drug Administration necessities.
The FDA doesn’t overview the security and efficacy of compounded merchandise, that are personalized alternate options to brand-name medicine designed to satisfy the wants of a particular affected person.
In a January launch, the FDA mentioned sufferers mustn’t use a compounded GLP-1 drug if an authorised drug, corresponding to Wegovy, is offered.
Hims & Hers CEO Andrew Dudum advised CNBC that the corporate is “assured” that clients could have entry to a constant provide of the compounded drugs.
Dudum mentioned Hims & Hers has spent the previous yr studying in regards to the GLP-1 provide chain and dealing with one of many largest generic producers within the nation that’s regulated by the FDA.
“Now we have a level of exclusivity with this facility that ensures constant quantity and provide for our shoppers,” he mentioned.
