Hims to begin selling GLP-1 microdosing treatments

Hims & Hers said Wednesday that it will begin offering GLP-1 “microdosing treatments,” doubling down on selling copycat versions of the blockbuster weight-loss drugs made by Novo Nordisk.

“Microdosing” GLP-1s generally refers to taking less than the typical doses, perhaps to save money or reduce side effects, though Hims bills it as a treatment for general “metabolic health.” The microdose treatment will cost the same as the rest of its compounded GLP-1s, currently $1,200 for a six-month plan paid up front.

Hims currently offers compounded semaglutide, the active ingredient in Novo’s Wegovy, at doses similar to those made by Novo. Hims says its providers will now be able to offer GLP-1 microdosing treatment plans, which are presumably at a significantly different dose than those manufactured by Novo, to treat a broader range of conditions. They will be offered “to people based on factors beyond BMI, including genuine metabolic health risks, like sleep apnea or high blood pressure,” the company said.

Hims saw massive growth last year when it began selling copies of Wegovy, which it was able to do without many barriers while the drug was in a shortage. But once the supply chain issues waned and the shortage was declared over earlier this year, Hims continued to sell what it calls “personalized” versions of Wegovy — typically just dose sizes that Novo doesn’t offer.

Novo at one point struck a deal with Hims to distribute Wegovy at a cheaper cash-pay price, but the drugmakers abruptly called off the deal in June and accused Hims of “illegal mass compounding and deceptive marketing.” Since then, speculation that Novo might sue Hims has lingered, with traders on Kalshi pegging the odds at about 24% by the end of the year.

Meanwhile, the FDA sent Hims and other companies that sell GLP-1s a warning letter last month over its marketing of compounded semaglutide.

Microdoses, like all compounded GLP-1 doses, are understudied and not approved by the Food and Drug Administration. Similar programs are offered by competing telehealth companies like Noom at comparable price points. Hims CEO Andrew Dudum takes a GLP-1 microdose, he told Bloomberg earlier this year.

Hims stock was largely flat on the news. The company reports earnings on Monday, and investors are looking for signs of revenue growth after the numbers in its last report showed deceleration.

Since then, the company has introduced testosterone treatments and menopause regimens as its core sexual health business slows down and its ability to sell weight-loss treatments remains on shaky ground.