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(OFFICIAL)-UPDATE 1-Hims & Hers Health plans to offer generic version of Novo Nordisk's diabetes drug in 2025
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(OFFICIAL)-UPDATE 1-Hims & Hers Health plans to offer generic version of Novo Nordisk's diabetes drug in 2025
Nov 4, 2024 4:02 PM

Nov 4 (Reuters) - Telehealth firm Hims & Hers Health ( HIMS )

said on Monday it plans to bring a generic version of

Novo Nordisk's diabetes drug, liraglutide, to its

platform in 2025.

"We have already confirmed a core supplier for this addition

and over the next few months expect to finish completing test

and batch validation, as well as confirming certificates of

analysis," the company said.

Liraglutide, used to treat type 2 diabetes under the brand

name Victoza, belongs to the first generation of drugs known as

GLP-1 agonists, which curb appetite and help control blood

sugar.

It results in less weight loss on average than Novo's newer

in-demand Wegovy, which launched in 2020 and was approved in

2022 for adolescents aged 12 and older.

Hims & Hers currently offers compounded GLP-1 weight-loss

injections at $199 per month and weight management oral

medication kits at $79 per month.

Soaring demand for weight-loss drugs such as Wegovy and Eli

Lilly's ( LLY ) Zepbound, which are capable of helping patients

lose up to 20% of their weight on average, has led to shortages

that allowed drug compounders to produce them under U.S.

regulations.

Federal regulations allow compounded versions to be sold to

meet demand if a drug is in shortage. Outside of a shortage,

compounders cannot make the drugs "regularly or in inordinate

amounts."

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