Hims & Hers Health (NYSE:HIMS) is gearing up to launch an off-patent version of Novo Nordisk's (NVO) (OTCPK:NONOF) older GLP-1 weight loss therapy liraglutide in 2025, CEO of the telehealth platform Andrew Dudum has said.
"We plan to bring liraglutide, the first generic GLP-1 in the market, to the platform in 2025," Dudum said, referring to the injectable, marketed as Victoza and Saxenda for diabetes and obesity, respectively.
In the first half of 2024, Liraglutide added DKK 8.3B ($1.2B) to the Danish drugmaker with a ~22% YoY drop ahead of its loss of market exclusivity this year as part of the company's older GLP-1 portfolio.
"We have already confirmed a core supplier for this addition, and over the next few months, expect to finish completing test and batch validation as well as confirming certificates of authenticity," Dudum, HIMS' co-founder, added.
His comments came at the company's earnings call after the San Francisco, California-based healthtech exceeded Street forecasts with its Q3 2024 financials and raised its full-year outlook, sending its stock sharply higher in the post-market.
In May, Hims & Hers (NYSE:HIMS) launched compounded versions of Novo Nordisk's (NVO) popular weight loss therapy semaglutide marketed as Wegovy at a sharp discount.
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