Hims & Hers products are on display.
He whispered and hers
Start your digital pharmacy Himes and hers health The company announced Monday the availability of access to its GLP-1 combination weight loss injection.
The company's shares jumped more than 30% on Monday morning.
The company, which offers a range of direct-to-consumer treatments for conditions such as erectile dysfunction and hair loss, launched a weight-loss program in December. But GLP-1 drugs — such as Ozempic and Wegovy, which have skyrocketed in popularity — had not previously been offered as part of this program.
Customers can access GLP-1 combination medications via prescription from a licensed healthcare provider on the Hims & Hers platform. Hims & Hers said it plans to make its branded GLP-1 medications available to its customers once supply is consistently available.
The company's oral combinations start at $79 per month, and its combination GLP-1 injections will start at $199 per month.
Even before adding compounded GLP-1s to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects its weight loss program to generate more than $100 million in revenue by the end of 2025. The company plans to provide updated guidance in its next earnings report.
The GLP-1 market, so far dominated by the pharmaceutical giant Novo Nordiskhas faced supply constraints in recent months as drugs gain expanded approval from health regulatory bodies and health coverage increases.
GLP-1s mimic the hormone that is produced in the intestines to reduce a person's appetite and regulate blood sugar. When there is a shortage of these drugs, some manufacturers can prepare a combination version if it meets FDA requirements.
The FDA does not review the safety and effectiveness of combination products, which are custom-made alternatives to brand-name medications designed to meet the needs of a specific patient.
In a statement in January, the FDA said patients should not use a GLP-1 combination drug if an approved drug, such as Wegovy, is available.
Andrew Dudum, CEO of Hims & Hers, told CNBC that the company is “confident” that customers will be able to access a steady supply of the combination drugs.
Hims & Hers spent the last year learning about the GLP-1 supply chain and partnered with one of the nation's largest generic drug manufacturers that is regulated by the FDA, Dudum said.
“We have a certain degree of exclusivity with those facilities that will guarantee our customers consistent volume and supply,” he said.
