Hims & Hers announced on Wednesday its plan to introduce GLP-1 “microdosing treatments,” marking a significant step in its strategy to sell alternatives to popular weight-loss medications from Novo Nordisk. This new offering aims to make GLP-1 treatments more accessible by allowing patients to take lower doses, potentially mitigating side effects while targeting a range of metabolic health issues beyond just weight management.
The term “microdosing” refers to taking doses that are lower than the standard recommendations, which Hims promotes as a method for enhancing overall metabolic health. The microdose treatment will be priced similarly to their existing compounded GLP-1 offerings, at $1,200 for a six-month plan to be paid in advance.
Hims currently provides compounded semaglutide—the active ingredient in Novo’s Wegovy—at comparable dosages but now plans to offer tailored treatment plans using these microdoses. These plans will focus on various health concerns, not limited to BMI, contributing to a more holistic approach to metabolic health, including conditions like sleep apnea and high blood pressure.
Last year, Hims experienced substantial growth as it began marketing versions of Wegovy, capitalizing on a shortage in availability of the original product. As supply chain issues improved and the shortage was officially resolved earlier this year, Hims adapted by continuing to promote personalized alternatives by providing dose sizes that Novo does not typically offer.
The relationship between Hims and Novo has grown tense since June, when Novo terminated a distribution agreement with Hims over accusations of “illegal mass compounding and deceptive marketing.” Legal repercussions have been speculated, with the likelihood of a potential lawsuit by Novo estimated at about 24% by the end of the year according to traders.
Additionally, Hims received a warning letter from the FDA last month regarding its marketing practices related to compounded semaglutide. This highlights ongoing concerns about the safety and efficacy of compounded GLP-1 injections, as they are not FDA-approved and have been described as understudied. Competing telehealth services like Noom are also offering similar microdosing programs at comparable costs.
As the company prepares to report its earnings on Monday, investor focus is on revenue growth following previous reports that indicated a slowdown. Hims has diversified its offerings recently, introducing testosterone treatments and menopause regimens in response to a slowing core sexual health segment and uncertainty in the weight-loss treatment market.
This innovative move reflects Hims’ ongoing efforts to adapt and align with the evolving landscape of metabolic health solutions, emphasizing their commitment to personalized care and addressing a broader set of health issues.