Hims & Hers is getting into the weight-loss drug game — and Wall Street is loving it

Geoff Weiss
Updated ·2 min read
Hims & Hers is getting into the weight-loss drug game — and Wall Street is loving it

  • Hims & Hers will sell weight-loss injectables starting at $200 a month.

  • That's much cheaper than competitors like Ozempic.

  • The online pharmacy's stock shot up 30% Monday on the announcement.

Hims & Hers wants to sell you weight loss drugs for cheap.

The online pharmacy said Monday it will sell compounded GLP-1 injections — which contain the same active ingredient as brand-name mainstays like Ozempic and Wegovy — starting at $200 a month.

That's way cheaper than competitors.

The list prices for Ozempic and Wegovy are $935.77 and $1,349.02, respectively. Him & Hers said it wants to help users bypass "the shortages and costs" associated with the branded drugs.

Hims & Hers' stock surged more than 30% on Monday in response to the news.

It's worth noting Hims & Hers' injectables won't be identical to those formulations.

Compounded drugs — which contain different formulations than brand-name versions — aren't tested or approved by the Food and Drug Administration (FDA), but the agency says they can be created in light of shortages.

While compounded drugs are generally considered safe, semaglutide is something of an unusual case in that a generic version isn't available.

"Compounding GLP-1s is legal and safe," the company's chief medical officer, Dr. Pat Carroll, told Business Insider in a statement. "We're now partnering with a leading US manufacturer of generic and 503B compounded injectable medications."

"They are registered with the FDA as a 503B outsourcing facility," he added, "which is subject to state and federal oversight."

Once a consistent supply of the compounded GLP-1 is available, Hims & Hers said it plans to offer branded options.

Hims & Hers isn't the only online pharmacy to get into weight-loss drugs. Ro began prescribing compounded semaglutide earlier this year as a backup for when the brand-name drugs weren't available.

Hims & Hers did not immediately respond to a request for comment from Business Insider.

Read the original article on Business Insider