VAST VIEW Hims & Hers Stock Soars After Striking Major Weight Loss Drug Deal With Eli Lilly
Shares of Hims & Hers jumped after the telehealth company reached an agreement with Eli Lilly, a deal that requires it to stop compounding GLP-1 drugs like Zepbound.
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Shares of Hims & Hers rallied after the telehealth company announced a new agreement with pharmaceutical giant Eli Lilly centered on GLP-1 weight loss medications, according to MarketWatch.
As part of the deal, Hims & Hers agreed to stop compounding GLP-1 medications such as Zepbound going forward, MarketWatch reported. Compounded versions of popular weight loss drugs have been a flashpoint in the booming telehealth weight loss industry, with drugmakers pushing back against companies offering cheaper, non-brand-name alternatives.
The agreement marks a shift in how Hims & Hers will operate within the weight loss drug market, aligning the company more closely with a major name-brand manufacturer rather than offering compounded substitutes. Investors responded positively to the news, sending the stock higher, per MarketWatch.
Sources: MarketWatch Top Stories
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