NEW YORK – On Wednesday, Hims & Hers Health (NYSE: HIMS), the U.S. telehealth company, said it will sell compounded versions of Novo Nordisk’s (NYSE: NVO) popular weight-loss drug Wegovy to patients in certain professions for $99 a month.
The company said the pricing would be available to eligible U.S. military members, teachers, nurses, and first responders, including police and firefighters, as well as veterans. For patients on a 12-month plan, Hims offers a semaglutide injection for $199 a month, according to its website.
WHY IT’S IMPORTANT
The news comes after U.S. Senator Bernie Sanders said multiple generic drugmakers confirmed they could sell custom-made versions of Novo’s drug for less than $100 a month using the semaglutide.
Soaring demand for weight-loss drugs in the GLP-1 class, which have been shown to help patients lose as much as 20% of their weight on average, has led to shortages of the drugs that have allowed compounders to produce them under U.S. regulations.
Around 70% of U.S. adults are either overweight or obese, According to the World Health Organization (WHO).
CONTEXT
Ozempic and Wegovy carry high list prices of $935.77 and $1,349.02 respectively for a month’s supply, according to the company’s website. Most U.S. patients are covered by health insurance and would likely pay less for the drugs.
Novo Nordisk (NYSE: NVO) and rival Eli Lilly (NYSE: LLY), which makes the weight-loss drug Zepbound, have filed a flurry of lawsuits against medical spas, wellness clinics, and compounding pharmacies for allegedly selling products claiming to contain the active ingredients in their drugs.
Compounded GLP-1 injections are fulfilled and shipped from Hims & Hers’affiliated pharmacies and are FDA-regulated, the company said.
KEY QUOTE
“The current state of access to weight loss drugs isn’t serving everyone who needs them,” said Andrew Dudum, CEO and co-founder of Hims & Hers (NYSE: HIMS). “Safe and affordable healthcare solutions for every individual should be the status quo.”
(Source: ReutersReuters)
Hims & Hers Novo Nordisk NYSE: HIMS NYSE: NVO Wegovy
