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A screenshot from Hims & Hers' website. (Sherwood News)
A screenshot from Hims & Hers' website. (Sherwood News)

Hims to begin selling GLP-1 microdosing treatments

The company reports earnings results next Monday.

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.

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Danone acquires meal replacement shake maker Huel for ~$1.2 billion

Very big things happening today in the world of nutritionally-complete products that taste like chalk, as Danone agrees to buy the celebrity-backed protein bar, powder, meal, and meal-replacement shake maker Huel for €1 billion, or around $1.2 billion.

In a statement announcing the acquisition, Danone — apparently the number-one yogurt producer in the US and the nation’s top plant-based food and beverage company as well — said that buying Huel will enhance its “presence in functional nutrition and extend its portfolio into the fast-growing Complete Nutrition space.” Danone, the parent company behind Evian and Actimel, also praised Huel’s “best-in-class digital execution” and fan bases across the UK, Europe, and the US.

Bulking season

Huel, a portmanteau of “human” and “fuel,” was only set up just over a decade ago, but thanks to its marketing efforts; a buzzy product range that marries on-the-go eating with nutrient-dense, plant-based ingredients; and a decent list of (mostly UK-based) celebrity investors, like actor Idris Elba and talk show host Jonathan Ross, sales have soared.

business

China’s EV startup trio have all become profitable

China’s EV startup trio, Nio, Li Auto, and XPeng, are now all profitable, following the latter’s Q4 results released Friday.

XPeng reported a quarterly net profit of about $55 million, compared to rival Nio’s Q4 net profit (also its first) of about $40 million. Li Auto posted Q4 net profit of less than $1 million.

All three companies being profitable offers a stark contrast to the EV market in the US, where Rivian quietly delayed its 2027 profitability target in a filing about its Uber robotaxi partnership yesterday. Lucid is likely further away, and last month cut 12% of its US workforce as part of its “path toward profitability.”

Still, it’s not all rosy for China’s EV startups, either. XPeng ADRs were down more than 6% in Friday morning trading as its Q1 sales forecast came in below estimates. As China rolls back subsidies, auto sales are slumping. Chinese retail EV and hybrid sales fell 32% in February from the same month last year.

9.3%

As the war with Iran produces the biggest spike in US gas prices since Hurricane Katrina, car retailer CarMax is continuing to see heightened interest in EVs, hybrids, and plug-in hybrids.

“From Feb 1st - March 1st (inclusive), compared to March 2nd to March 15th (inclusive), we saw a 9.3% lift in page views for these vehicles,” a spokesperson for the company told Sherwood News.

As industry insiders recently told us, EV interest climbs when gas prices rise. That appears to be holding true even without EV tax credits, which the Trump administration ended under its new budget package.

CarMax also saw EV searches spike in 2022, amid Russia’s invasion of Ukraine and the resulting oil price spike.

Walt Disney Chairman And CEO Bob Iger Rings Opening Bell At NY Stock Exchange

It’s the end of Disney’s Iger era (again)

Incoming CEO Josh D’Amaro is replacing Bob Iger on Wednesday, though Iger will remain a senior adviser through the end of the year.

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