Hims & Hers weight loss adds compounded GLP-1 injections

Products of Hims & Hers displayed.

Hims & Hers

Digital pharmacy startup Hims & Hers Health is introducing access to compounded GLP-1 weight loss injections, the company announced Monday.

Shares of the company jumped more than 30% Monday morning.

The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December. But GLP-1 medications — such as Ozempic and Wegovy, which have skyrocketed in popularity — were not previously offered as part of that program.

Customers can access the compounded GLP-1 medications via a prescription from a licensed health-care provider on the Hims & Hers platform. Hims & Hers said it plans to make branded GLP-1 medications available to its customers once supply is consistently available.

The company’s oral medication kits start at $79 a month, and its compounded GLP-1 injections will start at $199 a month.

Even before it added compounded GLP-1s to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects its weight loss program to bring in more than $100 million in revenue by the end of 2025. The company plans to offer updated guidance in its next earnings report.

The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.

GLP-1s mimic a hormone produced in the gut to tamp down a person’s appetite and regulate their blood sugar. When those medications are in shortage, certain manufacturers can prepare a compounded version if they meet U.S. Food and Drug Administration requirements.

The FDA does not review the safety and efficacy of compounded products, which are custom-made alternatives to brand drugs designed to meet a specific patient’s needs.

In a January release, the FDA said patients should not use a compounded GLP-1 drug if an approved drug, such as Wegovy, is available.

Hims & Hers CEO Andrew Dudum told CNBC that the company is “confident” that customers will be able to access a consistent supply of the compounded medications.

Dudum said Hims & Hers has spent the last year learning about the GLP-1 supply chain and has partnered with one of the largest generic manufacturers in the country that has FDA oversight.

“We have a certain degree of exclusivity with that facility that will guarantee our consumers consistent volume and supply,” he said.

Don’t miss these exclusives from CNBC PRO

Source link

Related Posts

Coconut Flour Apple Cinnamon Muffins Recipe (Grain Free)

I discovered this grain-free apple cinnamon muffin recipe made with applesauce out of desperation. (Isn’t it so true that necessity is the mother of invention?) On this particular morning, I…

Read more

How to Build a Sauna In Your Backyard (& Lessons Learned the Hard Way)

Building a sauna in your backyard sounds like a dream, doesn’t it? A perfect, cozy escape from the hustle and bustle of daily life. Somewhere you can unwind, relax, and…

Read more

Homemade Baby Powder

When I first became a mom, I started to question the ingredients in everything I put on my baby. Unfortunately, there weren’t good answers to most of my questions. One…

Read more

Homemade Curry Powder Recipe (Mild & Not Too Spicy)

I never thought I liked curry powder. I’m not sure where my negative opinion came from, but I once accidentally added it to a soup and discovered I absolutely love…

Read more

Healthy Easter Basket Ideas the Whole Family Will Enjoy

Since we largely avoid candy and other processed foods, I have to get creative and come up with other Easter basket ideas each year. As kids, my brother and I…

Read more

Energy Boosting Beet Gummies

Beets are one of my favorite vegetables. I use beet root powder in homemade blush, add them to salads, and use them to make great tasting strawberry beet fruit leather….

Read more

Leave a Reply