Hims & Hers to sell GLP-1 weight loss drug for 85% less than Wegovy

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How Ozempic, different weight-loss drugs are "changing medicine"

How Ozempic, different weight-loss drugs are "changing medicine" 08:40

Direct-to-consumer pharmaceutical startup Hims & Hers Health said it is selling injectable GLP-1 value nonaccomplishment drugs for a fraction of the outgo of brand-name competitors such arsenic Wegovy and Ozempic. Following the announcement, shares of the telehealth institution soared much than 30% Monday.

Hims & Hers volition supply patients with compounded GLP-1 drugs that commencement astatine $199 a month, oregon astir 85% little than brand-name versions similar Ozempic and Wegovy. The injectables usage the aforesaid progressive ingredients arsenic the branded versions, which presently are in short supply successful immoderate doses.

Shares of Hims & Hers soared $4.21, oregon 29%, to $18.79 successful Monday day trading.

GLP-1 drugs, which stands for glucagon-like peptide 1 agonists, assistance radical consciousness fuller and little hungry, aiding their efforts to suffer weight. But the brand-name versions made by a fistful of pharmaceutical companies tin beryllium pricey, with Novo Nordisk's Wegovy costing astir $1,350 a month, oregon much than $16,00 a year, without insurance, according to GoodRx

Hims & Hers Health's whitethorn besides bushed retired competitors connected different cardinal metric: availability. The startup said its GLP-1 injectable drug, which is made successful concern with a shaper of compounded injectable medications, volition person "consistent" availability.

The institution added that it volition besides merchantability brand-name versions of GLP-1 drugs, erstwhile proviso rebounds. 

"We've leveraged our size and standard to unafraid entree to 1 of the highest-quality supplies of compounded GLP-1 injections disposable today," Hims & Hers Health CEO and co-founder Andrew Dudum said successful a connection Monday. "We're passing that entree and worth on to our customers, who merit the highest modular of objective information and efficacy to conscionable their goals, and we're doing it successful a safe, affordable mode that others can't deliver."

Customers volition request a medicine from their aesculapian provider, based connected what is "medically due and indispensable for each patient," the institution said. 

The institution is tapping an accidental to nett by tapping into Americans' tendency to slim down. It already has an existing weight-loss programme that is connected way to bring successful much than $100 cardinal successful gross by 2025, with the programme selling oral weight-loss medications for astir $79 per month.

Compounded drugs are made by pharmacists to tailor a medicine to a diligent oregon if immoderate drugs are successful abbreviated supply. To beryllium sure, the Food and Drug Administration warns that patients should not usage compounded drugs erstwhile approved drugs are disposable to patients.

The bureau does not reappraisal compounded GLP-1 medications for safety, and said it has received "adverse lawsuit reports" from patients who person utilized compounded semaglutide medications. 

Some consumers person turned to compounded versions of the medications arsenic request for marque sanction drugs similar Wegovy, Ozempic and Eli Lilly's Mounjaro, dubbed "miracle drugs" by users who person slimmed down, soars and strains supply.

Megan Cerullo

Megan Cerullo is simply a New York-based newsman for CBS MoneyWatch covering tiny business, workplace, wellness care, user spending and idiosyncratic concern topics. She regularly appears connected CBS News 24/7 to sermon her reporting.

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