Hims & Hers introduces GLP-1 weight loss injections, driving share price jump

From CNBC: 2024-05-20 09:54:18

Hims & Hers introduces access to compounded GLP-1 weight loss injections, driving 20% jump in shares. Customers can get medications with prescription from licensed provider on platform, aiming to offer branded versions soon. Oral meds start at $79/month, injections at $199/month. Company expects over $100 million revenue from weight loss program by 2025.

GLP-1 market, led by Novo Nordisk, faces supply constraints, prompting use of compounded versions meeting FDA requirements. FDA warns against using compounded GLP-1 drugs if approved options are available. Hims & Hers CEO confident in consistent supply through exclusive partnership with generic manufacturer with FDA oversight.

Hims & Hers plans to update revenue guidance in upcoming earnings report, following successful launch of weight loss program. Expansion into weight loss market with GLP-1 medications to enhance direct-to-consumer treatment offerings. Focus on customer access to consistent supply and FDA-compliant compounded medications for effective weight loss solutions.



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