Hims & Hers struck a deal with Eli Lilly to offer the drugmaker’s branded obesity treatments through its online health and wellness platform.
Under the agreement, Eli Lilly will give Hims & Hers pharmacies direct access to its U.S. Food and Drug Administration-approved GLP-1 medications at self-pay prices. Eligible patients on the Hims & Hers platform can be prescribed and order Eli Lilly's injectable Zepbound (tirzepatide) and daily oral medication Foundayo (orforglipron) without leaving the company's platform.
Prior to this agreement, Lilly drugs were available to patients on Hims & Hers only if they left the site and went to Lilly's direct-to-consumer platform, LillyDirect.
Shares of Hims & Hers jumped 8% Friday following news of the Eli Lilly partnership.
The agreement brings together Lilly’s obesity medicines and Hims & Hers’ consumer platform to expand consumers' access to FDA-approved weight loss drugs, the companies said.
"Patients can complete a consultation, receive a prescription if their provider determines it is appropriate and have an FDA-approved Lilly medicine shipped directly to their home, all in one seamless experience," the companies said in a press release.
Self-pay pricing starts at $149 per month for Foundayo and $299 per month for Zepbound.
"At Lilly, we are always looking for new ways to help more people get the medicines they need, and that means meeting patients where they already are," said Ilya Yuffa, executive vice president and president, Lilly USA and global customer capabilities, Eli Lilly and Company, in a statement. "Millions of people turn to Hims & Hers for their care, and through this agreement, those patients now have a simple, more direct way to get FDA-approved Lilly medicine at an affordable price if prescribed."
Hims & Hers' technology platform supports provider outreach, follow-up care and treatment planning. Weight loss patients on Hims & Hers receive a membership experience that includes 24/7 access to a care team, nutrition guidance, regular clinical check-ins and access to the Hims & Hers Weight Loss community, according to the company.
The agreement with Eli Lilly mirrors Hims & Hers' partnership with Novo Nordisk, which has been selling its branded weight loss drugs Wegovy and Ozempic through Hims & Hers since March. Novo had previously sued the telehealth company for offering compounded versions of its medications. Hims & Hers' agreement with Novo marked a shift in its obesity strategy toward FDA-approved branded GLP-1 treatments and away from cheaper compounded GLP-1 drugs.
Earlier this year, Hims & Hers took heat from the pharmaceutical manufacturer and federal regulators after announcing plans to launch a knockoff of Novo's oral pill. It backed down from those plans under pressure.
Hims & Hers stated that it never offered access to compounded copies of Lilly’s GLP-1 drugs and has committed not to do so in the future.
As part of the agreement, the companies have committed to protecting independent clinical decision-making, so that providers on the Hims & Hers platform continue to prescribe the treatment they determine is right for each patient.
“Lilly is one of the most innovative pharmaceutical companies in history, and I’m incredibly proud that Hims & Hers is a part of making sure more people can access the medicines they’ve created,” said Andrew Dudum, co-founder and CEO of Hims & Hers, in a statement. “By working together, we’re not just reaching more people with obesity with seamless, personal access to FDA-approved Lilly medicine. We’re showing the industry what innovators can achieve for customers everywhere when we work together to make the world well.”
Hims & Hers has faced financial pressure as it shifts from high-margin compounded GLP-1s to lower-margin branded weight-loss drugs. The company posted a $92 million loss in Q1, including $33 million in restructuring costs, largely from write-downs of its compounded GLP-1 supply chain, which executives said faced “risk of obsolescence.”
In Q2, Hims & Hers reported an $86 million loss, compared with a $43 million profit a year earlier. The quarter included $81 million in one-time costs, including expenses tied to its exit from compounded GLP-1s.