Hims & Hers Health says it will offer compounded GLP-1 injections

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Digital pharmacy startup Hims & Hers Health is introducing access to compounded GLP-1 weight loss injections, the company announced Monday. Shares of the company surged. The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December. But GLP-1 medications — such as Ozempic and Wegovy, which have skyrocketed in popularity — were not previously offered as part of that program. Customers can access the compounded GLP-1 medications via a prescription from a licensed health-care provider on the Hims & Hers platform. Hims & Hers said it plans to make branded GLP-1 medications available to its customers once supply is consistently available. The company’s oral medication kits start at $79 a month, and its compounded GLP-1 injections will start at $199 a month. Even before it added compounded GLP-1s to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects its weight loss program to bring in more than $100 million in revenue by the end of 2025. The company plans to offer updated guidance in its next earnings report. The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage. GLP-1s mimic a hormone produced in the gut to tamp down a person’s appetite and regulate their blood sugar. When those medications are in shortage, certain manufacturers can prepare a compounded version if they meet U.S. Food and Drug Administration requirements. The FDA does not review the safety and efficacy of compounded products, which are custom-made alternatives to brand drugs designed to meet a specific patient’s needs. In a January release, the FDA said patients should not use a compounded GLP-1 drug if an approved drug, such as Wegovy, is available. Hims & Hers CEO Andrew Dudum told CNBC that the company is “confident” that customers will be able to access a consistent supply of the compounded medications. Dudum said Hims & Hers has spent the last year learning about the GLP-1 supply chain and has partnered with one of the largest generic manufacturers in the country that has FDA oversight. “We have a certain degree of exclusivity with that facility that will guarantee our consumers consistent volume and supply,” he said.