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Him and her
Launch of a digital pharmacy His and her health introduces access to GLP-1 combined weight loss injections, the company announced on Monday.
On Monday morning, the company’s shares jumped by more than 30%.
The company, which offers a range of direct-to-consumer drugs for conditions such as erectile dysfunction and hair loss, launched a weight-loss program in December. However, GLP-1 drugs – such as Ozempic and Wegovy, which have exploded in popularity – have not previously been offered under this program.
Customers can access GLP-1 compounded medications with a prescription from a licensed healthcare provider on the Hims & Hers platform. Hims & Hers said it plans to make its brand-name GLP-1 medicines available to its customers once supplies are permanently available.
The company’s oral drug kits start at $79 per month, and its GLP-1 combination injections start at $199 per month.
Even before adding GLP-1 to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects the weight-loss program to generate revenues of more than $100 million by the end of 2025. The company plans to offer updated guidance in its next earnings report.
The GLP-1 market has so far been dominated by the pharmaceutical giant Fresh Nordiskhas faced supply constraints in recent months amid increasing drug approval by health regulators and increased health insurance coverage.
GLP-1 mimics a hormone produced in the intestines that suppresses appetite and regulates blood sugar levels. In the event of a shortage of these drugs, some manufacturers may prepare a combination version if they meet U.S. Food and Drug Administration requirements.
The FDA does not review the safety and effectiveness of combination products, which are custom-made alternatives to brand-name drugs designed to meet a patient’s specific needs.
IN January issueThe FDA has stated that patients should not utilize a GLP-1 combination drug if an approved drug such as Wegovy is available.
Hims & Hers CEO Andrew Dudum told CNBC the company is “confident” that customers will have access to a steady supply of convoluted medicines.
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 drug manufacturers in the country that is regulated by the FDA.
“We have a degree of exclusivity in this facility that will guarantee consistent volume and supply for our consumers,” he said.
