Telehealth Giant Hims and Hers Launches Lower-Priced Wegovy Alternative

Hims and Hers Health introduces a compounded version of Novo Nordisk's Wegovy pill at $49/month. Shares of Novo fell after the announcement. The offering marks a competitive move in the weight-loss drug market amidst pricing pressures and ongoing FDA scrutiny of compounded medications.

Telehealth company Hims and Hers Health has announced plans to offer a compounded version of Novo Nordisk's Wegovy pill at an introductory rate of $49 per month, undercutting the original by around $100. The news caused Novo Nordisk's shares to drop by 6% in early trading. This compounded version of the weight-loss treatment features the same active ingredient, semaglutide, found in Novo's offering.

Following the initial lower fee, patients committing to a five-month treatment through Hims will see a monthly charge of $99, significantly less than Novo's $199 rate. Hims emphasizes flexibility in treatment plans, accommodating individual patient needs, including side effect management and preference for oral over injectable options.

Novo Nordisk is facing unprecedented pricing pressures and competition from rivals like Eli Lilly. Additionally, the FDA has warned Hims about misleading marketing of compounded semaglutide. Meanwhile, Hims' expansion in Ohio is intended to facilitate cost-effective delivery of treatments as Novo warns against large-scale manufacture of drug copies for safety reasons.

(With inputs from agencies.)