HIMS, who aired a super bowl commercial, and you may have seen through other advertising, is a leading supplier of compounded GLP-1 drugs (essentially cheaper cost copies of the branded product).
This was allowed as the branded products were in drug shortage. Last Friday the FDA ruled that GLP-1s were no longer under shortage; therefore, compounding is no longer broadly allowed.
HIMS had a conference call last night that discussed this (you can see shares down meaningfully since last week when this FDA decision was made). Hard to get an accurate estimate of how many patients are using compounded GLP-1s, but some suspect it is as much as 20% to 30% of the market. This should push patients back to LLY and NOVO.
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