Shares of Hims & Hers Health (HIMS) sank in intraday trading Tuesday on new competition for lower-priced weight-loss drugs from Eli Lilly (LLY).
Lilly announced that it would be selling the two lowest doses of its popular injectable obesity drug Zepbound in single-use vials that patients would measure themselves.1
Lilly said those would be priced at half the cost of the pre-filled vials currently prescribed. In addition, the medicine would be sent through the company's LillyDirect self-pay channel, helping those not eligible for Zepbound's savings program or without insurance coverage to afford it.
Hims & Hers Reduced-Priced Copies of Popular Drugs
That was bad news for Hims & Hers Health, which offers direct-to-consumer copycat versions of prescription drugs at reduced prices. In May, it began selling an injectable with the same key ingredient that's in Novo Nordisk's (NVO) popular weight-loss treatments Wegovy and Ozempic.2 Hims & Hers also said in its recent earnings call that it planned to have one similar to Zepbound "in the near future."
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