Price Battle Intensifies: Hims Offers Cost-effective Wegovy Alternatives

Hims and Hers Health has announced the sale of compounded versions of Novo Nordisk's Wegovy pill at an introductory price of $49 monthly. The pill uses semaglutide, the same active ingredient from Novo Nordisk. Hims pledges competitive pricing despite pressure on major pharmaceutical companies, fostering a competitive market landscape.

In a strategic move to capture a share of the weight-loss drug market, Hims and Hers Health has launched a compounded version of Novo Nordisk's Wegovy pill, introducing it at $49 a month. This offers a $100 savings compared to the Novo brand name price.

Hims' version, utilizing the same active ingredient, semaglutide, provides patients with a more affordable option. However, the pricing strategy reflects broader pressures in the pharmaceutical industry as companies face demands for price reductions and competition from potential market entrants like Eli Lilly.

The pharmaceutical landscape is increasingly competitive, with Hims asserting its capacity to influence market dynamics through pricing. Meanwhile, the FDA has cautioned against marketing compounded drugs misleadingly as equivalent to FDA-approved versions.

(With inputs from agencies.)