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His and hers
Digital pharmacy startup Health for him and her is introducing access to GLP-1 compounded injections for weight loss, the company announced Monday.
The company's shares rose 20% in early trading.
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, were not previously offered as part of that program.
Customers can access GLP-1 compounded medications through a prescription from a licensed healthcare provider on the Hims & Hers platform. Hims & Hers said it plans to make GLP-1 brand medications available to its customers once supply is consistently available.
The company's oral medication kits start at $79 per month, and its GLP-1 compounded injections will start at $199 per month.
Even before adding GLP-1 compounds 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 offer updated guidance in its next earnings report.
The GLP-1 market, dominated until now by the pharmaceutical giant Nordiskhas faced supply constraints in recent months as drugs gain greater approval from health regulators and expanded medical coverage.
GLP-1 mimics a hormone produced in the intestine to reduce a person's appetite and regulate blood sugar. When those drugs are in short supply, certain manufacturers may prepare a compounded version if they meet U.S. Food and Drug Administration requirements.
The FDA does not review the safety and effectiveness of compounded products, which are customized alternatives to brand-name medications designed to meet the needs of a specific patient.
In a January statement, the FDA said patients should not use a drug composed of GLP-1 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 steady supply of the compounded medications.
Dudum said Hims & Hers spent the last year learning about the GLP-1 supply chain and partnered with one of the country's largest generic manufacturers 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.
