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Hims & Hers Adds $199 GLP-1 Injections to Weight Loss Program, Stock Surges 38%

May 20, 2024, 06:33 PM

Hims & Hers Health announced that it will add compounded GLP-1 injections to its weight loss program. These injections, similar to popular drugs like Ozempic and Wegovy, will be offered at a significantly lower price of $199, compared to nearly $1,000 for the branded versions. The announcement has led to a surge in Hims & Hers' stock, which has increased by as much as 38%, including a 10%, 20%, and 30% rise throughout the day, reaching a three-year high. This move aims to provide affordable weight-loss solutions through the company's telehealth platform, despite concerns over the FDA approval status of compounded drugs. The new offering is part of Hims & Hers' broader strategy to compete with big pharmaceutical companies by providing cost-effective alternatives.