Hims & Hers to offer copycat weight loss drug

Hims & Hers, popular for selling sexual wellness products, saw its stock jump over 30% yesterday after announcing it would be offering “compounded” GLP-1 weight loss injections and treatment at $199 per month.

The telehealth startup will provide GLP-1 injections with the same active ingredient as Ozempic or Wegovy.

What are compounded versions?
The FDA allows pharmacies to make and sell compounded or generic versions of drugs during supply shortages, and this practice is expanding into the weight loss space, reports Bloomberg.

GLP-1 medications have been in short supply since 2022. Hims & Hers took the opportunity to offer weight loss drugs at 85% less than the cost of Wegovy, which has a price tag of ~$1,350 a month without insurance.

Weightloss drug boom
Hims & Hers’s fourth-quarter earnings report indicates it expects its weight loss program to bring in more than $100 million in revenue by the end of 2025.

JPMorgan researchers estimate that by 2030, around 9% of the American population could be taking GLP-1 drugs.

But caution is key. The FDA has warned patients not to use a compounded GLP-1 drug if an approved drug is available.