BUZZ-Hims & Hers Health falls as Amazon offers low-cost telehealth services for members

Reuters
2024-11-14

** Shares of telehealth co Hims & Hers Health fall 16.8% to $22.96

** Amazon.com introduces low, upfront pricing for telehealth visit, treatment plan, and free medication delivery for Prime members

** Says Prime members can now get anti-aging skin care treatment from $10 per month, $16 per month for men's hair loss treatment and $19 per month for erectile dysfunction treatment among others

** Says customers can view one low treatment price for five common health conditions and beauty treatments, and have a consultation with a clinician virtually and discreetly via messaging or video

** HIMS also offers treatments for a range of conditions, including sexual health, men's and women's dermatology, mental health, and weight loss

** Brokerage Leerink Partners says the introduction by Amazon "of what appears to be a HIMS look-alike product, at least for its two largest categories (and importantly NOT GLP-1), is both surprising and also not surprising"

** "We don't know how successful it (Amazon) will be, but also note that this is a serious competitive threat being introduced to the market"- Leerink Partners

** Including session moves, HIMS more than tripled YTD

(Reporting by Sneha S K)

((Sneha.SK@thomsonreuters.com;))

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