The weight loss drug treatment market has been explosive.
Eli Lilly (SYM: LLY), Novo Nordisk (SYM: NVO) and Viking Therapeutics (SYM: VKTX) are all pushing aggressively higher because of it. Even better, the industry shows no signs of slowing, with Goldman Sachs saying the market could be worth $100 billion by 2030.
Now, even Hims & Hers Health (SYM: HIMS) has jumped on the bandwagon.
Up 30%, or $4.40 on the day, the company just added access to GLP-1 weight loss injections.
As noted in a company press release, “The company now offers access to GLP-1 injections in addition to weight management oral medication kits, so that customers can truly personalize their weight loss experience.”
“Providing access to compounded GLP-1s means eligible customers can use medications with the same active ingredient as Ozempic and Wegovy without navigating the shortages and costs that are currently limiting access to the branded medications. Through a partnership with a leading US manufacturer of generic and 503B compounded injectable medications, Hims & Hers can help millions of Americans who have obesity and are looking for help safely managing their weight,” the company added.
Should things go well, HIMS could see higher highs.
