Hims & Hers Health’s stock is surging after the telehealth company announced it would introduce affordable compounded GLP-1 weight-loss medications.
Hims and Hers specialize in men’s and women’s health, respectively, offering a wide variety of prescription treatments for conditions like hair loss, anxiety and depression. Both brands began offering weight-loss programs in December, though they didn’t sell medications like Ozempic and Wegovy until now.
![Hims & Hers Health's weight-loss medications, Ozempic, Wegovy](https://wwd.com/wp-content/themes/vip/pmc-wwd-2021/assets/public/lazyload-fallback.gif)
“Over the last year, we have grown in our conviction — based on our medical experts’ evaluation and the strength of our infrastructure — that if done properly, compounded GLP-1s are safe and effective,” the company said in a statement.
Hims & Hers Health’s branded weight-loss medications come in both pill and injection form. The former is priced at just $79 a month while the latter costs $100 a month. Typically, a 30-day prescription of Ozempic or Wegovy retails for around $1,000.
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GLP-1s mimic hormones that regulate a person’s appetite and blood sugar. Pharmaceutical giant Novo Nordisk, which produces Ozempic and Wegovy, currently dominates the market, though they’ve faced supply shortages in recent months due to an increased demand.
![Novo Nordisk's Wegovy, weight-loss, health, medication, injection, Ozempic](https://wwd.com/wp-content/themes/vip/pmc-wwd-2021/assets/public/lazyload-fallback.gif)
“We have a certain degree of exclusivity with that facility that will guarantee our consumers consistent volume and supply,” Hims & Hers Health’s chief executive officer, Andrew Dudum, told CNBC.
In the event of shortages, the United States Food and Drug Administration allows certain manufacturers to prepare similar “compounded” versions of drugs, like those sold by Hims & Hers. The FDA does not review the safety and efficacy of compounded products, which are custom-made alternatives to brand name drugs.
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.
![Novo Nordisk's Ozempic, injectable, weight-loss, medication, health](https://wwd.com/wp-content/themes/vip/pmc-wwd-2021/assets/public/lazyload-fallback.gif)