Despite just announcing it would offer its own GLP-1 pill as a lower-cost alternative to the weight-loss pill Wegovy, Hims & Hers has a new update: It will no longer be pursuing its plans to sell this off-brand version.
On Thursday, Hims & Hers said it would be launching a cheaper version of the semaglutide pill Wegovy, just weeks after the Wegovy pill became available on the market in the U.S. However, there was quick backlash from Wegovy manufacturer Novo Nordisk, who said it would sue Hims & Hers, claiming the pills are an unapproved knockoff amongst other patient concerns. It called the new product “an unapproved, inauthentic, and untested knockoff” of semaglutide, which is the chemical name for Wegovy.
“Novo Nordisk will take legal and regulatory action to protect patients, our intellectual property and the integrity of the U.S. gold-standard drug approval framework,” the company said in a statement.
Then, on Friday, the U.S. Food and Drug Administration also became involved. The FDA stated it planned to restrict the use of GLP-1 ingredients, like semaglutide, in non-approved compounded drugs, which is what companies like Hims & Hers market as alternatives to the pricier, authorized treatments.
However, after Thursday’s announcement, just two days later, Hims & Hers announced it will be pulling the plug on its semaglutide pill, sharing a statement from the brand communications teams on X. “Since launching the compounded semaglutide pill on our platform, we’ve had constructive conversations with stakeholders across the industry. As a result, we have decided to stop offering access to this treatment. We remain committed to the millions of Americans who depend on us for access to safe, affordable, and personalized care,” it reads.
Hims & Hers has sold weight-loss drugs for years in injection form, which is the most commonly available way to receive the medication and was, for a long time, the only way. The new semaglutide pill was set to be priced at $49 for the first month and $99 per month after that, which is an introductory price about $100 less than Wegovy.
This is also happening amidst a Super Bowl commercial from Hims & Hers, which aired Sunday, focusing on the idea that “America’s wealth gap has turned into a health gap” and the urgency to build a more affordable healthcare system that works for everyone. And the telehealth brand wasn’t the only one getting in on the action. Many GLP-1 ads dominated the Super Bowl airwaves, including Ro (featuring an appearance by Serena Williams), Wegovy (with an appearance by Kenan Thompson) and others.
All of this comes on the heels of a booming GLP-1 and weight-loss drug market, which has grown exponentially in the past decade. Per the American Medical Association, from 2018 to 2023, spending on GLP-1s increased by more than 500 percent from $13.7 billion to $71.7 billion.