Key Takeaways
Hims & Hers Health ( HIMS ) shares jumped Tuesday as the company added Eli Lilly’s ( LLY ) weight-loss drug Zepbound and diabetes drug Mounjaro to its roster of telehealth treatments.
The company said it will now offer branded tirzepatide, the active ingredient in both Eli Lilly drugs. It also added a generic version of Novo Nordisk’s ( NVO ) liraglutide, which is used to treat Type 2 diabetes. Zepbound and Mounjaro will cost $1,899 per month through Hims, while liraglutide will cost $299, according to the company's website.
Shares of Hims rose 5% Tuesday. They've more than doubled in value over the past 12 months, despite taking a hit in recent weeks after the Food and Drug Administration said in February that a shortage of the active ingredient in Novo Nordisk’s Wegovy and Ozempic was resolved.
Hims has manufactured copycat drugs through an FDA rule that allows companies to make compounded versions when the originals are hard to obtain. The agency said in February it does not intend to take action against drug compounders like Hims until May 22, “to avoid unnecessary disruption to patient treatment.”
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