The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Business

Hims & Hers Health says it will offer compounded GLP-1 injections

by admin May 22, 2024
May 22, 2024
Hims & Hers Health says it will offer compounded GLP-1 injections

Digital pharmacy startup Hims & Hers Health is 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 — 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.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
FDIC Chair Martin Gruenberg to resign after damning workplace harassment probe
next post
Don Hansen: Gold Stock Bull Phase Coming, 4 Picks for Current Cycle

Related Posts

The Body Shop shuts down in the U.S....

March 14, 2024

More discounts — and pitfalls — await holiday...

December 1, 2023

Want to bet against Trump Media stock? It’ll...

April 7, 2024

Trump’s deals to sell Bibles, sneakers and perfume...

April 3, 2024

SEC issues summons for Gautam Adani, nephew on...

November 26, 2024

What’s next for Sam Bankman-Fried and FTX executives...

November 9, 2023

Ford joins list of companies walking back DEI...

August 30, 2024

McDonald’s announces plan to hire 375,000 employees this...

May 14, 2025

U.S. consumer sentiment falls slightly as outlook for...

April 17, 2024

Inflation vs. wages: How rising prices stack up...

June 28, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,487)
    • Investing (3,803)
    • Politics (5,096)
    • World (4,762)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved