Hims & Hers declined to provide specific financial guidance or subscriber projections for its weight management segment, which started selling compounded GLP-1 medications in May.
Compounded GLP-1s are essentially copies of the popular weight loss medications made by manufacturers such as Novo Nordisk and Eli Lilly. During an earnings call with financial analysts, CEO Andrew Dudum said Hims & Hers would focus resources on products that are personalized for its customers, especially in the weight management segment.
“Weight is a particularly strategic category for us,” Dudum said. “Our approach centers on equipping providers with the ability to offer consumers access to a breadth of personalized solutions.”
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The company used part of its quarterly letter to shareholders to tout its entry into GLP-1s. As Hims & Hers markets compounded GLP-1s to consumers, Dudum said the company was trying to obtain branded GLP-1 medications from Novo Nordisk and Eli Lilly.
"Like many others, we are trying our best to source supply," Dudum said. "What we can tell you is that it's not easy. There’s not really any available in volume."
In July, the company added longtime Novo Nordisk executive Kåre Schultz to its board of directors.
Hims & Hers, which also offers medications and treatments for hair loss and mental health, raised its annual revenue projections, partly due to an increase in weight management customers.
