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Company: Hims & Hers Health (SYM: HIMS) Shares of Hims & Hers Health (SYM: HIMS) just dropped about 20%. All on news the Ozempic shortage is over. Just last week, the US FDA said Novo Nordisk’s diabetes and weight loss drugs Ozempic and Wegovy are no longer in shortage. That means Hims & Hers Health, which markets compounded versions of the two treatments, can no longer manufacture exact copies of the drugs as they did during the shortage. It also means the gravy train is over for HIMS, at least for now. During the shortage, “patients flocked to compounders, which were allowed to make copies of semaglutide since it was on the shortage list. Patients were also drawn to compounded semaglutide since it was cheaper than the brand-name version, which carries a list price of about $1,000 a month,” as noted by StatNews.com. |
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Demand is Still Sky-High for Obesity Drugs With demand not showing any signs of cooling, companies could see supply issues again down the road, which could be good news for companies like HIMS. For one, we have to consider the obesity market opportunity is substantial. As noted by Goldman Sachs, the global obesity treatment market could grow to $130 billion by 2030. Even Morgan Stanley expects the global obesity drug treatment market to reach $105 billion by 2030 from $77 billion. At the high end, $144 billion. (More info below ad) |
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Two, companies like Novo Nordisk are seeing record sales for Wegovy and Ozempic, leaving the company struggling to keep up with demand. “Obesity drug sales jumped by 154% at constant exchange rates to 41.6bn Danish kroner (£4.8bn) last year, fueled by demand for Wegovy, which brought in £3.6bn. Sales of diabetes drugs such as Ozempic grew by 52%, and obesity and diabetes drug sales totalled nearly £25bn,” according to The Guardian. Again, while it may be a good idea to avoid the HIMS stock for now, keep an eye on it. |
