Digital pharmacy startup\u00a0Hims & Hers Health\u00a0is introducing access to compounded GLP-1 weight loss injections, the company announced Monday.<\/p>\n
Shares of the company surged.<\/p>\n
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 \u2014 such as Ozempic and Wegovy, which have skyrocketed in popularity \u2014 were not previously offered as part of that program.<\/p>\n
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.<\/p>\n
The company\u2019s oral medication kits start at $79 a month, and its compounded GLP-1 injections will start at $199 a month.<\/p>\n
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.<\/p>\n
The GLP-1 market, dominated so far by pharmaceutical giant\u00a0Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.<\/p>\n
GLP-1s mimic a hormone produced in the gut to tamp down a person\u2019s 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.<\/p>\n
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\u2019s needs.<\/p>\n
In a\u00a0January release, the FDA said patients should not use a compounded GLP-1 drug if an approved drug, such as Wegovy, is available.<\/p>\n
Hims & Hers CEO Andrew Dudum told CNBC that the company is \u201cconfident\u201d that customers will be able to access a consistent supply of the compounded medications.<\/p>\n
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.<\/p>\n
\u201cWe have a certain degree of exclusivity with that facility that will guarantee our consumers consistent volume and supply,\u201d he said.<\/p>\n<\/p>\n
Digital pharmacy startup\u00a0Hims & Hers Health\u00a0is introducing access to compounded GLP-1 weight loss injections, the company announced Monday. Shares of the company surged. 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 \u2014 such as Ozempic and […]<\/p>\n","protected":false},"author":0,"featured_media":4687,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=4688"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4688\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/4687"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=4688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=4688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=4688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}