Hims & Hers Health Launches $49 Compounded Wegovy Pill Alternative
Hims & Hers Health, an online telehealth company, has announced that it will start offering a compounded version of the popular Wegovy weight loss pill for $49 per month. This price is about $100 less than the branded Wegovy pill, which is sold by Novo Nordisk for $149 per month.
The new product contains semaglutide, the same active ingredient as Wegovy. Hims & Hers is offering this as part of its range of weight loss solutions, aiming to provide customers with more affordable and accessible treatments. The treatment is a pill, providing an alternative to needles.
Following the announcement, the shares of pharmaceutical companies Novo Nordisk and Eli Lilly declined, while Hims & Hers saw a rise in its stock price. The offering has triggered reactions in the market due to its lower cost and easy online access.
A compounded drug is a medicine made by a pharmacist or doctor by combining or altering ingredients to fit the needs of a specific patient, rather than using a mass-produced standard version.
Hims & Hers is offering its compounded semaglutide pill for $49 per month, which is about $100 less than the $149 per month cost of the branded Wegovy pill.
Both companies sell branded weight loss medications. Hims & Hers introducing a much cheaper alternative led investors to worry about increased competition and possible impacts on their sales.
The new pill uses the same active ingredient (semaglutide) as Wegovy, but it is a compounded version and not the official branded product made by Novo Nordisk.
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