Hims & Hers Health recently announced the addition of compounded GLP-1 weight loss injections to its list of services, causing a 20% rise in the company’s shares during early trading. This digital pharmacy startup, known for offering direct-to-consumer treatments for various conditions, had previously launched a weight loss program in December. However, the inclusion of popular GLP-1 medications like Ozempic and Wegovy is a new development.
Customers interested in accessing these compounded GLP-1 medications can do so through a prescription from a licensed health-care provider on the Hims & Hers platform. The company also plans to make branded GLP-1 medications available once a consistent supply is established. While oral medication kits start at $79 a month, the compounded GLP-1 injections will be priced at $199 a month.
Despite just adding compounded GLP-1s to its portfolio, Hims & Hers anticipates generating over $100 million in revenue from its weight loss program by the end of 2025. This expansion comes at a time when the GLP-1 market, largely dominated by Novo Nordisk, is facing supply constraints due to increased demand and regulatory approvals. These medications work by mimicking a gut hormone to reduce appetite and regulate blood sugar.
The U.S. Food and Drug Administration (FDA) has warned against using compounded GLP-1 drugs if approved alternatives are available. Despite this, Hims & Hers CEO, Andrew Dudum, expressed confidence in the company’s ability to provide a consistent supply of compounded medications. By partnering with a reputable generic manufacturer with FDA oversight, the company aims to ensure reliable volume and supply for its customers.
Hims & Hers Health’s introduction of compounded GLP-1 weight loss injections signifies a strategic move to expand its product offerings and tap into the growing demand for innovative treatments. As the company navigates the intricacies of the pharmaceutical market and regulatory landscape, its commitment to providing accessible and affordable healthcare solutions remains at the forefront of its mission.