Hims & Hers compounded GLP-1 — the same ingredient as Ozempic — will be priced at $200 a month. Investors are loving the announcement.
Courtesy of Hims & Hers
Hims & Hers wants to sell you weight loss drugs for cheap.
The online pharmacy said Monday it will sell compounded GLP-1 injections — which contain the same active ingredient as brand-name mainstays like Ozempic and Wegovy — starting at $200 a month.
That's way cheaper than competitors.
The list prices for Ozempic and Wegovy are $935.77 and $1,349.02, respectively. Him & Hers said it wants to help users bypass "the shortages and costs" associated with the branded drugs.
Hims & Hers' stock surged more than 30% on Monday in response to the news.
It's worth noting Hims & Hers' injectables won't be identical to those formulations.
Compounded drugs — which contain different formulations than brand-name versions — aren't tested or approved by the Food and Drug Administration (FDA), but the agency says they can be created in light of shortages.
While compounded drugs are generally considered safe, semaglutide is something of an unusual case in that a generic version isn't available.
Hims & Hers said it's partnering with "a leading US manufacturer of generic and 503B compounded injectable medications."
Once a consistent supply of the compounded GLP-1 is available, Hims & Hers said it plans to offer branded options.
Hims & Hers isn't the online online pharmacy to get into weight-loss drugs. Ro began prescribing compounded semaglutide earlier this year as a backup for when the brand-name drugs weren't available.
Hims & Hers did not immediately respond to a request for comment from Business Insider.
