Injectable GLP-1 weight reduction medications are being sold by direct-to-consumer pharmaceutical firm Hims & Hers Health at a far lower price than name-brand rivals like Wegovy and Ozempic. (Photo : by Justin Sullivan/Getty Images)
Hims & Hers Health is offering injectable GLP-1 weight loss medications at significantly lower prices than name-brand options like Wegovy and Ozempic, with prices starting at $199 per month, roughly 85% less expensive.
Following the announcement, Hims & Hers' stock surged over 30%, as the company promises a consistent supply of these medications, which contain the same active ingredients as the costlier branded versions.
GLP-1 medications aid in weight loss by making users feel fuller, but branded versions can be prohibitively expensive, such as Wegovy, which costs about $1,350 per month without insurance. Hims & Hers plans to offer both compounded and brand-name options as supply issues resolve.
Injectable GLP-1 weight reduction medications are being sold by direct-to-consumer pharmaceutical firm Hims & Hers Health at a far lower price than name-brand rivals like Wegovy and Ozempic. Monday saw a greater than 30% increase in the telehealth company's stock following the news.
Patients may obtain compounded GLP-1 medications from Hims & Hers for as little as $199 per month, which is around 85% less expensive than name-brand alternatives like Ozempic and Wegovy. The injectables include the same active components as the branded equivalents, some of which are now unavailable. In Monday afternoon trade, shares of Hims & Hers surged $4.21, or 29%, to $18.79.
Glucagon-like peptide 1 agonists, or GLP-1 medications, make individuals feel fuller and less hungry, which supports weight loss attempts. However, the name-brand equivalents produced by a few pharmaceutical firms can be costly. Novo Nordisk's Wegovy, for example, costs around $1,350 per month, or more than $16,000 annually, if insurance is not used, according to GoodRx.
Another important factor that might help Hims & Hers Health outperform rivals is availability. The firm promised "consistent" supply for its injectable medicine GLP-1, which is produced in collaboration with a producer of compounded injectable drugs.
When supply recovers, the business said, it would also start selling GLP-1 medications under brand names. According to the company, customers will require a prescription from their healthcare professional based on what is "medically appropriate and necessary for each patient."
By emphasizing Americans' desire to lose weight, the corporation is taking advantage of a lucrative opportunity. Its current weight-loss program, which sells oral weight-loss drugs for around $79 per month, is expected to generate over $100 million in income by 2025.
Pharmacists compound medications to meet a patient's specific needs or when certain pharmaceuticals are scarce. Undoubtedly, the Food and Drug Administration cautions patients against using compounded medications when patients can obtain authorized medications.
As demand increases and supplies become limited for brand-name treatments like Wegovy, Ozempic, and Eli Lilly's Mounjaro-dubbed "miracle drugs" by users who have slimmed down-some customers have resorted to compounded copies of the prescriptions.
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