Advertisement
Canada markets closed

  • S&P/TSX

    24,162.83
    +194.33 (+0.81%)
     

  • S&P 500

    5,751.07
    +51.13 (+0.90%)
     

  • DOW

    42,352.75
    +341.16 (+0.81%)
     

  • CAD/USD

    0.7369
    -0.0010 (-0.13%)
     

  • CRUDE OIL

    74.45
    +0.74 (+1.00%)
     

  • Bitcoin CAD

    84,104.06
    -219.76 (-0.26%)
     

  • XRP CAD

    0.72
    -0.00 (-0.27%)
     

  • GOLD FUTURES

    2,673.20
    -6.00 (-0.22%)
     

  • RUSSELL 2000

    2,212.80
    +32.65 (+1.50%)
     

  • 10-Yr Bond

    3.9810
    +0.1310 (+3.40%)
     

  • NASDAQ

    18,137.85
    +219.38 (+1.22%)
     

  • VOLATILITY

    19.21
    -1.28 (-6.25%)
     

  • FTSE

    8,280.63
    -1.89 (-0.02%)
     

  • NIKKEI 225

    38,635.62
    +83.56 (+0.22%)
     

  • CAD/EUR

    0.6709
    +0.0024 (+0.36%)
     

Hims & Hers offers compounded Wegovy for $99 a month to select professions

Amina Niasse
·2 min read
Boxes of Wegovy made by Novo Nordisk are seen at a pharmacy in London

By Amina Niasse

NEW YORK (Reuters) - U.S. telehealth company Hims & Hers Health on Wednesday said it will sell compounded versions of Novo Nordisk's popular weight-loss drug Wegovy to patients in certain professions for $99 a month.

The company said the pricing would be available to eligible U.S. military members, teachers, nurses and first responders, including police and firefighters, as well as veterans. For patients on a 12-month plan, Hims offers a semaglutide injection for $199 a month, according to its website.

WHY IT'S IMPORTANT

The news comes after U.S. Senator Bernie Sanders said multiple generic drugmakers confirmed they could sell custom-made versions of Novo's drug for less than $100 a month using the semaglutide.

Soaring demand for weight-loss drugs in the GLP-1 class, which have been shown to help patients lose as much as 20% of their weight on average, has led to shortages of the drugs that have allowed compounders to produce them under U.S. regulations.

Around 70% of U.S. adults are either overweight or obese, According to the World Health Organization (WHO).

CONTEXT

Ozempic and Wegovy carry high list prices of $935.77 and $1,349.02 respectively for a month's supply, according to the company's website. Most U.S. patients are covered by health insurance and would likely pay less for the drugs.

Novo and rival Eli Lilly, which makes the weight-loss drug Zepbound, have filed a flurry of lawsuits against medical spas, wellness clinics and compounding pharmacies for allegedly selling products claiming to contain the active ingredients in their drugs.

Compounded GLP-1 injections are fulfilled and shipped from Hims & Hers' affiliated pharmacies and are FDA-regulated, the company said.

KEY QUOTE

“The current state of access to weight loss drugs isn’t serving everyone who needs them,” said Andrew Dudum, CEO and co-founder of Hims & Hers. “Safe and affordable healthcare solutions for every individual should be the status quo."

(Reporting by Amina Niasse in New York; Editing by Patrick Wingrove and Aurora Ellis)