Hims & Hers Health CEO and co-founder Andrew Dudum talks about the telemedicine company’s weight loss platform on The Claman Countdown.
Health platform Hims & Hers Health Inc. announced Monday that it is rolling out an injectable weight-loss drug at a fraction of the price of competitors Wegovy and Ozempic.
Hims & Hers says its GLP-1 drug contains the same active ingredient as rival drugs, but starts at $199 per month. For comparison, Wegovy costs about $1,350 per month and Ozempic costs about $935 without insurance. Novo Nordisk manufactures both drugs.
Hims & Hers offers injectable weight loss drugs at a fraction of the price of our competitors. (Business Wire/Fox News)
In a statement announcing the new drug, Andrew Dadham, co-founder and CEO of Hims & Hers, said in a statement announcing the new drug, “We are leveraging our size and scale to leverage the currently available combination GLP-1 “We have secured access to one of the highest quality sources of medicine.” “We provide that access and value to customers who deserve the highest standards of clinical safety and efficacy to achieve their goals, and we do so in a safe and affordable way that no other company can. ”
Kevin O’Leary slams his CEO over support for anti-Israel protests: ‘He’ll be crushed in seconds’
Hims & Hers shares rose more than 27% on the news, hitting a three-year high.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| Hims | his and her health | 17.75 | -0.85 | -4.57% |
Hims & Hers Health Co., Ltd.
GLP-1 agonists are a class of type 2 diabetes drugs that improve blood sugar control, but may also lead to weight loss. Semaglutide, the active ingredient in Novo Nordisk’s Wegovy and Ozempic, and tirzepatide, the active ingredient in Eli Lilly’s Mounjaro and Zepbound, are considered GLP-1 drugs.
The drug’s popularity has skyrocketed in recent years as people tout the drug’s weight loss benefits. According to the American Pharmacists Association, one in 60 adults will be prescribed a GLP-1 drug by 2023.
According to JPMorgan, the number of GLP-1 users in the U.S. could reach 30 million by 2030, or about 9% of the total population. The market is projected to exceed $100 billion by that same year, “driven by diabetes and obesity use alike,” the firm noted.
HIMS & HERS CEO withdraws praise for anti-Israel protesters after stock price declines
Mr. Dudum’s company, which provides telemedicine services and prescription drugs for problems such as hair loss, erectile dysfunction and skin disorders, made headlines earlier this month after praising Mr. Dudum for his “moral courage.” Anti-Israel campus demonstrators and encouraged them to apply to health and wellness companies.
“Moral courage > college degree,” the CEO wrote in a post to X on May 1st. He added: “If you are currently protesting the genocide of Palestinians or the withdrawal of universities from Israel, please continue. It works.”
Hims & Hers says its GLP-1 treatment contains the same active ingredients as rival drugs, but starts at $199 per month. (Reuters/Carlo Allegri/Getty Images)
He retracted his comments days later, after the company’s stock price fell, saying those comments had been “misinterpreted by some people.”
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“I in no way condone or support acts or threats of violence, anti-Semitism, or intimidation, and violence on campus is never justified,” Dudum wrote. “All students have the right to feel safe without fear of harm or being targeted for who they are. I am very sorry that some people are interpreting this as something that encourages this.”
FOX Business’ Eric Revell and Daniella Genovese contributed to this report.
