Digital pharmacy startup Health for him and her is launching access to compounded GLP-1 injections for weight reduction, the corporate announced Monday.
The company's shares rose 20% in early trading.
The company, which offers a variety of direct-to-consumer treatments for conditions corresponding to erectile dysfunction and hair loss, launched a weight reduction program in December. But GLP-1 drugs — like Ozempic and Wegovy, which have skyrocketed in popularity — haven’t previously been offered under this program.
Customers can access the GLP-1 compounded medications through a prescription from a licensed healthcare provider on the Hims & Hers platform. Hims & Hers said it plans to make branded GLP-1 drugs available to its customers once supplies grow to be consistently available.
The company's oral medication sets start at $79 monthly and the compound GLP-1 injections start at $199 monthly.
Even before adding compounded GLP-1s to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects to generate greater than $100 million in sales from its weight-loss program by the tip of 2025. The company plans to supply updated guidance in its next earnings report.
The GLP-1 market has thus far been dominated by the pharmaceutical giant Novo Nordiskhas faced supply shortages in recent months as medicines received expanded approval from health authorities and medical health insurance expanded.
GLP-1s mimic a hormone produced within the gut to suppress an individual's appetite and regulate their blood sugar. When these drugs are in brief supply, certain manufacturers can produce a compounded version in the event that they meet U.S. Food and Drug Administration requirements.
The FDA doesn’t test the protection and effectiveness of compounded products, that are tailored alternatives to brand-name medications tailored to the needs of a particular patient.
In one Release in JanuaryAccording to the FDA, patients mustn’t use a compounded GLP-1 drug when an approved drug like Wegovy is accessible.
Andrew Dudum, CEO of Hims & Hers, told CNBC the corporate is “confident” that customers could have access to a consistent supply of the compounded medications.
Dudum said Hims & Hers has spent the last yr learning concerning the GLP-1 supply chain and dealing with one in every of the country's largest generic drugmakers, which is under FDA oversight.
“We have a certain level of exclusivity with this facility that guarantees consistent volume and supply to our consumers,” he said.
image credit : www.cnbc.com