Stocks of Hims & Hers Surge as Telehealth Platform Adds Eli Lilly Drugs for Weight Loss

Key Takeaways

• Hims & Hers Health shares jumped Tuesday as the company added Eli Lilly’s weight-loss drug Zepbound and diabetes treatment Mounjaro to its telehealth platform.
• The treatments will each cost $1,899 per month, according to the company's website.
• His shares have more that doubled in value during the last 12 months.

Hims & Hers Health (HIMS) shares jumped Tuesday as the company added Eli Lilly’s (LLY) weight-loss drug Zepbound and diabetes drug Mounjaro to its roster of telehealth treatments.

The company has announced that it is now offering branded tirzepatide. This is the active ingredient found in both Eli Lilly medications. It also added generic version of Novo Nordisk (NVO)’s liraglutide which is used to manage Type 2 diabetes. Zepbound and Mounjaro are priced at $1,899 each month through Hims. Liraglutide costs $299 per month.

Hims shares rose by 5% on Monday. They’ve more doubled in value in the last 12 months despite taking a blow in recent weeks. In February, the Food and Drug Administration declared that a shortage in the active ingredient of Novo Nordisk’s Wegovy and Ozempic products had been resolved.

Hims manufactured copycats through an FDA regulation that allows companies make compounded versions of original drugs when they are hard to find. The agency stated in February that it would not take action against drug manufacturers like Hims until after May 22, “to prevent unnecessary disruptions to patient treatment.”