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HIMS - Hims & Hers: Soaring On Access To Compounded GLP-1 Drugs Further Volatility Ahead
Hims & Hers Health Inc. Class A
2024-05-21 08:15:00 ET
Summary
Hims & Hers Health's share price increased by over 25% after announcing the availability of compounded GLP-1 agonist weight loss drugs at a fraction of the price of branded drugs.
The company aims to capitalize on the shortages of the branded drugs Wegovy and Zepbound, which are expected to dominate a potential $100 billion industry.
Hims & Hers' partnership with a manufacturer of generic and compounded medications allows it to offer these drugs without supply shortages, potentially generating significant revenue.