Shares of Hims & Hers Health Inc. (HIMS), a telehealth company that offers various healthcare products and services, including weight-loss drugs, plummeted by 5.03% on Monday. This significant drop in the stock price can be attributed to the increasing competition and uncertainties surrounding the weight-loss drug market.
The weight-loss drug industry has been in the spotlight recently, with companies like Eli Lilly and Novo Nordisk competing for market share with their branded medications, Zepbound and Wegovy, respectively. However, the emergence of compounding pharmacies and telehealth platforms offering cheaper copycat versions of these drugs has posed a significant challenge to the major pharmaceutical companies.
As reported by Barron's, the Food and Drug Administration (FDA) is expected to make a crucial decision on Thursday regarding whether Eli Lilly's supply of Zepbound can meet the U.S. demand. If the FDA determines that Zepbound is not in shortage, it could potentially limit the availability of cheaper compounded versions, which have been gaining popularity among consumers seeking affordable weight-loss solutions.
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