On Monday, the health and wellness platform Hims & Hers Health Inc (NYSE:HIMS) shares traded higher after the company announced the addition of GLP-1 injections to its weight loss portfolio.
The company now offers access to GLP-1 injections and weight management oral medication kits.
Access to compounded GLP-1s means eligible customers can use medications with the same active ingredient as Novo Nordisk A/S’s (NYSE:NVO) Ozempic and Wegovy without navigating the shortages and costs currently limiting access to the branded medications.
Through a partnership with a US manufacturer of generic and 503B compounded injectable medications, Hims & Hers can help millions of obesity patients.
Hims & Hers expects its weight loss program to generate more than $100 million in revenue by the end of 2025.
GLP-1 injections are fulfilled and shipped from Hims & Hers’ affiliated pharmacies.
Once consistent supply is available through the pharmacies’ wholesaler, Hims & Hers plans to make branded options available to customers, expanding the offering beyond the current oral medication kits and compounded GLP-1 injectable medications.
Weight loss medications are priced at $79/month for oral medication kits and $199/month for compounded GLP-1 injections.
Pricing includes unlimited medical consultations with a licensed provider.
Oral medication kits and compounded GLP-1 injections are not available in all states.
Price Action: HIMS shares are up 34.9% at $19.65 at last check Monday.
Photo by Vidmir Rais via Pixabay
