Health platform Hims & Hers Health Inc. announced Monday that it's rolling out injectable weight-loss drugs that cost a fraction of the price of competitors Wegovy and Ozempic. Hims & Hers says its GLP-1 medications contain the same active ingredients as its rivals, but the price starts at $199 per month. For comparison, Wegovy costs around $1,350 per month, and Ozempic is priced at around $935 without insurance. Novo Nordisk produces both drugs.
In 2023, one in 60 adults were prescribed a GLP-1 medication, according to the American Pharmacists Association. By 2030, the number of GLP-1 users in the U.S. could reach 30 million, or around 9% of the overall population, according to JPMorgan. The market is projected to exceed $100 billion by that same year, "driven equally by diabetes and obesity usage," the firm noted.