Andrew Dudum, CEO and co-founder of Hims & Hers Health, discusses the telehealth company’s weight loss platform on The Claman Countdown.
Health platform Hims & Hers Health Inc. said Monday it is launching injectable weight-loss drugs that cost a fraction of the price of competitors Wegovy and Ozempic.
Hims & Hers says its GLP-1 medications contain the same active ingredients as its competitors, but pricing starts at $199 per month. For comparison, Wegovy costs around $1,350 per month and Ozempic costs around $935 without insurance. Novo Nordisk produces both drugs.
Hims & Hers offers injectable weight loss medications at a fraction of the price of its competitors. (Business Wire/Fox News)
“We have leveraged our size and scale to ensure access to one of the highest quality supplies of GLP-1 compounded injections available today,” said Andrew Dudum, co-founder and CEO of Hims & Hers, in a press release announcing the new drugs. “We pass this access and value on to our customers, who deserve the highest level of clinical safety and effectiveness to achieve their goals, and we do it in a safe and affordable way that others cannot offer.” »
KEVIN O’LEARY SLAMS HIM AND HIS CEO FOR SUPPORTING ANTI-ISRAEL PROTESTS: ‘YOU WILL BE DEFEATED IN SECONDS’
Hims & Hers stock jumped more than 27% to its highest level in three years following the news.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| HIM | HEALTH OF HIM AND HER | 17.78 | -0.82 | -4.40% |
GLP-1 agonists are a class of type 2 diabetes medications that improve blood sugar control but may also cause weight loss. Semaglutide, which is the active ingredient in Novo Nordisk’s Wegovy and Ozempic, as well as tirzepatide, which is the active ingredient in Eli Lily’s Mounjaro and Zepbound, are considered GLP-1 drugs.
These drugs have gained popularity in recent years as people tout their weight loss effects. By 2023, one in 60 adults will be prescribed a GLP-1 drug, according to the American Pharmacists Association.
By 2030, the number of GLP-1 users in the United States could reach 30 million, or about 9% of the total population, according to JPMorgan. The market is expected to exceed $100 billion by the same year, “driven equally by diabetes and obesity use,” the company noted.
HIMS & HERS CEO Praises ANTI-ISRAEL PROTESTERS AFTER STOCKS DROP
Dudum, whose company provides telehealth services and prescription medications for issues including hair loss, erectile dysfunction and skin problems, made headlines earlier this month after praising the “courage moral” of anti-Israeli protesters on campus and encouraged them to apply for jobs at the health and wellness company.
The CEO wrote on May 1 in an article on X that “Moral courage > University degree”. He added: “If you are currently protesting the genocide of the Palestinian people and for your university’s divestment from Israel, keep going. It’s working.”
Hims & Hers says its GLP-1 medications contain the same active ingredients as its competitors, but pricing starts at $199 per month. (Reuters/Carlo Allegri/Getty Images)
He then walked back those comments a few days later, saying they had been “misinterpreted by some” after the company’s shares fell.
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“I do not in any way condone or support acts or threats of violence, anti-Semitism or intimidation and there is absolutely no justification for violence on our campuses,” Dudum wrote. “Every student deserves to feel safe without fear of being harmed or targeted because of who they are. I am deeply saddened that my support for peaceful protests has been interpreted by some as encouraging violence, intimidation or intolerance of any kind.
Eric Revell and Daniella Genovese of FOX Business contributed to this report.
News Source : www.foxbusiness.com
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