Hims & Hers Announces Access to GLP-1 Injections, Passing Cost Savings Onto Customers
Hims & Hers has introduced GLP-1 injections to its weight loss program, offering an affordable and personalized solution starting at $199 per month. This addition complements their existing oral medication kits, addressing the shortage and high costs of branded medications like Ozempic® and Wegovy®. The company has secured a partnership with a leading US manufacturer to provide these injections, helping millions manage obesity effectively. The holistic program includes medical consultations, diet, and exercise advice. Hims & Hers aims to exceed $100M in revenue by the end of 2025 with this expanded offering.
- Introduction of GLP-1 injections broadens weight loss program.
- Affordable pricing starting at $199 per month.
- Partnership with a leading US manufacturer ensures supply and quality.
- Potential to help millions of Americans manage obesity.
- Holistic approach includes medical consultations and lifestyle advice.
- Program expected to exceed $100M in revenue by 2025.
- Availability as medications are not available in all states.
Insights
The introduction of GLP-1 injections by Hims & Hers into their weight loss program could notably impact the healthcare market, particularly in the domain of weight management. GLP-1 medications, such as Ozempic® and Wegovy®, have shown clinical efficacy in weight loss by managing blood sugar levels and suppressing appetite. By offering these medications at a more affordable price, Hims & Hers is potentially making a significant healthcare intervention accessible to a broader audience.
This move aligns with growing demand for effective weight management solutions, given the high prevalence of obesity in the US. The partnership with a leading US manufacturer for compounded injectable medications helps circumvent the current shortages and high costs of branded GLP-1 medications, presenting a viable alternative for many individuals struggling with obesity.
However, it is vital to consider the clinical safety and efficacy of compounded medications, which can vary. The company's ability to maintain high-quality standards in compounded GLP-1 injections will be important for patient outcomes and the program's success. Additionally, the holistic approach combining lifestyle changes with medications is in line with best practices for sustainable weight loss, which bodes well for long-term efficacy.
From a financial perspective, expanding the weight loss program to include GLP-1 injections could significantly boost Hims & Hers' revenue streams. Currently tracking to exceed
This move demonstrates strategic use of the company’s scale to secure a stable supply chain, potentially increasing customer loyalty and lifetime value. It also highlights an aggressive push towards monetizing emerging trends in healthcare, particularly telemedicine and personalized treatment plans.
However, investors should monitor the execution risks associated with scaling up this offering. Ensuring consistent supply and managing the regulatory landscape around compounded medications are potential hurdles. Additionally, competition from insurers and pharmaceutical companies offering similar treatments could impact market share.
The market positioning of Hims & Hers in the weight loss sector is a strategic move that addresses a significant public health concern. Their approach of combining medication with lifestyle support reflects a comprehensive strategy that could enhance user outcomes and differentiate their brand. As awareness about the benefits of GLP-1 medications grows and with around
By making these medications more affordable, the company taps into a broad demographic that might otherwise be unable to access such treatments. The holistic weight management solution they offer is aligned with consumer trends towards integrated health and wellness solutions.
Nonetheless, Hims & Hers will need to effectively communicate the value of compounded medications compared to branded alternatives to build consumer trust. Additionally, maintaining affordability while scaling the program will be key to long-term success in a highly competitive market.
Hims & Hers unlocks access to injectable GLP-1 medications, expanding its holistic weight loss program focused on personalized and affordable solutions; prices start as low as
Hims & Hers unlocks access to injectable GLP-1 medications, expanding its holistic weight loss program focused on personalized and affordable solutions; prices start as low as
The company now offers access to GLP-1 injections in addition to weight management oral medication kits, so that customers can truly personalize their weight loss experience. Providing access to compounded GLP-1s means eligible customers can use medications with the same active ingredient as Ozempic® and Wegovy® without navigating the shortages and costs that are currently limiting access to the branded medications. Through a partnership with a leading US manufacturer of generic and 503B compounded injectable medications, Hims & Hers can help millions of Americans who have obesity and are looking for help safely managing their weight.
“The core of our business is to offer a truly personalized experience that customers can trust and rely on,” said Andrew Dudum, CEO and co-founder of Hims & Hers. “We’ve leveraged our size and scale to secure access to one of the highest-quality supplies of compounded GLP-1 injections available today. We’re passing that access and value along to our customers, who deserve the highest standard of clinical safety and efficacy to meet their goals, and we're doing it in a safe, affordable way that others can’t deliver."
According to the US Food and Drug Administration (FDA), around
The Hims & Hers platform is built on the belief that there is no one-size-fits-all approach to health and wellness treatments. Medical providers need a broad spectrum of solutions to address the needs of customers and that includes those with weight challenges. The current Hims & Hers Weight Loss offering is tracking to eclipse
“We know weight loss medications alone do not treat obesity effectively, so we’ve built a holistic weight management solution that supports customers as they combine powerful medications with healthy lifestyle habits, such as exercise, improved sleep, and eating nutritious foods,” said Dr. Patrick Carroll, Chief Medical Officer of Hims & Hers. “Our comprehensive approach to weight loss comes with support from medical providers who understand the nuance of weight gain and weight loss. We design all of our solutions to help customers be successful in the long term, and that means providing an experience personalized to the individual.”
GLP-1 injections are fulfilled and shipped from Hims & Hers' affiliated pharmacies. Once consistent supply is available through the pharmacies' wholesaler, Hims & Hers plans to make branded options available to customers, expanding the offering beyond the current oral medication kits and compounded GLP-1 injectable medications.
For more information, visit https://www.forhers.com/weight-loss or https://www.hims.com/weight-loss.
Pricing & Availability
-
Pricing for weight loss medications starts as low as
$79 $199 - Medications are prescribed based on what medical providers determine is medically appropriate and necessary for each patient.
- Oral medication kits and compounded GLP-1 injections are not available in all states.
About Hims & Hers Health, Inc.
Hims & Hers is the leading health and wellness platform on a mission to help the world feel great through the power of better health. We believe how you feel in your body and mind transforms how you show up in life. That’s why we’re building a future where nothing stands in the way of harnessing this power. Hims & Hers normalizes health & wellness challenges—and innovates on their solutions—to make feeling happy and healthy easy to achieve. No two people are the same, so the company provides access to personalized care designed for results. For more information, please visit www.hims.com and www.forhers.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believe,” “estimate,” “anticipate,” “expect,” “assume,” “imply,” “intend,” “plan,” “may,” “will,” “potential,” “project,” “predict,” “continue,” “could,” “confident,” “confidence,” or “should,” or, in each case, their plural, their negative or other variations or comparable terminology. There can be no assurance that actual results will not materially differ from expectations. Such statements include, but are not limited to, any statements relating to our financial outlook and guidance, including our mission to drive top-line growth and profitability and our ability to attain our medium- and long-term financial targets; our expected future financial and business performance, including with respect to the Hims & Hers platform, our marketing campaigns, investments in innovation, and our infrastructure, and the underlying assumptions with respect to the foregoing; statements relating to events and trends relevant to us, including with respect to our financial condition, results of operations, short- and long-term business operations, objectives, and financial needs; expectations regarding our mobile applications, market acceptance, user experience, customer retention, brand development, our ability to invest and generate a return on any such investment, customer acquisition costs, operating efficiencies and leverage (including our fulfillment capabilities), the effect of any pricing decisions, changes in our product or offering mix, the timing and market acceptance of any new products or offerings, the success of our business model, our market opportunity, our ability to scale our business, the growth of certain of our specialties, our ability to innovate on and expand the scope of our offerings and experiences, our ability to reinvest into the customer experience, and our ability to comply with the extensive, complex and evolving regulatory requirements applicable to our business, including without limitation state and federal healthcare, privacy and consumer protection laws and regulations. These statements are based on management’s current expectations, but actual results may differ materially due to various factors.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the “Risk Factors” section of each of our most recently filed Quarterly Report on Form 10-Q, our most recently filed Annual Report on Form 10-K, and any of our subsequent filings with the Securities and Exchange Commission (the “Commission”).
Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation (and expressly disclaim any obligation) to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described in the “Risk Factors” section of each of our most recently filed Quarterly Report on Form 10-Q, our most recently filed Annual Report on Form 10-K, and any of our subsequent filings with the Commission may not be exhaustive.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in reports we have filed or will file with the Commission, including our most recently filed Annual Report on Form 10-K, our most recently filed Quarterly Report on Form 10-Q, and any of our subsequent filings with the Commission. In addition, even if our results of operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in such reports, those results or developments may not be indicative of results or developments in subsequent periods.
_________________________
1 Current guidance as of May 6 does not reflect the addition of GLP-1 access on our platform and we are not updating guidance at this time.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240520817107/en/
Jen Treadwell
press@forhims.com
Source: Hims & Hers
FAQ
What new weight loss solution has Hims & Hers introduced?
What is the starting price for GLP-1 injections offered by Hims & Hers?
What medications do the GLP-1 injections by Hims & Hers replace?
How does Hims & Hers ensure the quality of its GLP-1 injections?
What is the revenue projection for Hims & Hers' weight loss program by the end of 2025?
Are the GLP-1 injections and oral medication kits available in all states?
What additional support does Hims & Hers' weight loss program offer?
