Hims & Hers Health Inc., an online pharmacy platform founded in 2017, said it would offer compounded GLP-1 drugs with the same active ingredient (semaglutide) as Novo Nordisk’s mega-blockbuster diabetes drug Ozempic and weight-loss treatment Wegovy, at a significantly lower price of $199 per month.
This represents an 85% discount compared to the branded versions which cost around $1,350 per month without insurance. Yet FDA has warned against using compounded versions of these drugs, stating that the agency does not review them for safety, effectiveness, or quality. The FDA has received adverse event reports associated with compounded semaglutide products.
Novo Nordisk has also filed lawsuits against some compounding pharmacies, alleging they are offering contaminated or subpotent versions of semaglutide. Novo Nordisk holds the exclusive patent on semaglutide.
While Hims & Hers does not offer online ketamine therapy, compounding pharmacies provide compounded ketamine formulations to telehealth companies like MindBloom and Joyous. The FDA has also released a warning about this practice as well.
Hims & Hers does, however, offer mental health services like online therapy and prescriptions of traditional antidepressants for anxiety and depression.
Hims & Hers says it is working with an FDA-registered 503B outsourcing facility that complies with good manufacturing practices, after vetting potential suppliers for more than a year. The company plans to offer branded GLP-1 drugs once supply is consistently available.
According to the press release, Hims & Hers expects its weight loss offerings to top $100 million in revenue by the end of 2025, growing faster than any specialty in the company’s history.
Hims & Hers notes in the press release that medical providers on their platform determine what medications are medically appropriate and necessary for each patient. They also state that oral medication kits and compounded GLP-1 injections are not available in all states.
The press release highlights the company’s partnership with a leading US manufacturer of generic and 503B compounded injectable medications. Hims & Hers believes there is no one-size-fits-all approach to health and wellness treatments, and their platform is built on this belief.
Historically, some of the best-selling products from Hims & Hers are erectile dysfunction treatments like sildenafil (generic Viagra) and hair loss treatments such as minoxidil, finasteride, and specialized shampoos. It sells birth control pills and other women’s health products under its “Hers” brand.
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