Telehealth giant Hims will soon sell its own version of Ozempic that costs just a quarter of the price of the name brand.
Hims, a wellness start-up known for its hair and sex supplements, announced Monday that it will sell a ‘copycat’ of semaglutide, the active ingredient in Ozempic and Wegovy.
This is known as compounding, which is when companies can offer prescription drugs without FDA approval to combat shortages.
The injection cost will start as just $199 for a month’s supply, whereas Ozempic and Wegovy can total over $1,300. This price also includes unlimited consultations with a doctor.
Hims did not announce when the drug will be available.
Supplement giant Hims will sell its own version of semaglutide, the active ingredient in Ozempic and Wegovy, for just $199 per month
Hims also specializes in sexual health, hair loss, and mental health supplements and medications
Hims said the goal is to help customers get access to the drugs without ‘navigating the shortages and costs that are currently limiting access to the branded medications.’
The news comes as several types of drugs, including Ozempic and Wegovy face record-high shortages.
A recent report from the American Society of Health-System Pharmacists (ASHP) and the University of Utah Drug Information Service, for example, found that 323 drugs are currently running low, surpassing 2014’s high of 320.
Andrew Dundum, Hims chief executive officer, said: ‘It’s going to be a huge part of the weight loss category moving forward.
‘Our belief is that compounding can be done very safely, if done correctly.’
The announcement comes after Hims launched a weight loss program in December, which includes access to oral, non-GLP-1 medications.
Compounded weight loss drugs have become more popular in recent months as Ozempic maker Novo Nordisk and Wegovy manufacturer Eli Lilly have struggled to meet surging demand for the injections.
Though the FDA allows companies to make compounded drugs like these, the agency does not review their safety or efficacy.
Mr Dundum did not say where the new drugs will be made but noted it is ‘one of the largest generics manufacturers.’
Hims also announced that it will offer compounded versions of tirzepatide, the active ingredient in Mounjaro and Zepbound, in the coming months.
The company also said it will offer name-brand Ozempic and Wevovy once there is enough supply.
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