Hims & Hers Health shares jumped 27.7% on Monday, the 20th, after the telehealth company announced it will offer compounded GLP-1 injections to compete with more expensive versions from Novo Nordisk and Eli Lilly, enhancing its weight loss program introduced in December.
Despite being up over 40% for the week, the stock sold off in the following days and received a downgrade from Citi to neutral.
Customers can access the compounded GLP-1 medications via a prescription from a licensed health-care provider on the Hims & Hers platform.
Hims & Hers said it plans to make branded GLP-1 medications available to its customers once supply is consistently available.
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