•FDA on Friday said it would restrict GLP-1 ingredients
•Novo, Lilly shares fell after Hims launched the pill on Thursday
•Hims said the decision followed discussions with stakeholders
Online telehealth company Hims & Hers on Saturday reversed course on its launch of a $49 compounded version of Novo Nordisk’s Wegovy weight-loss pill after the U.S. Food and Drug Administration said it would take action against it.
“Since launching the compounded semaglutide pill on our platform, we’ve had constructive conversations with stakeholders across the industry. As a result, we have decided to stop offering access to this treatment,” the telehealth firm said.
The FDA said on Friday that it plans to restrict GLP-1 ingredients used in compounded drugs that companies such as Hims and online pharmacies have marketed, citing concerns over quality, safety and potential violations of federal law.
The Department of Health and Human Services said on Friday it would refer the company to the Department of Justice but did not make clear whether it could quickly halt the sale of the Hims’ product, the cheapest GLP-1 therapy on the U.S. market.
Reuters reported on Thursday that Hims would begin offering copies of Novo Nordisk’s new Wegovy pill at an introductory price of $49 per month, about $100 less than the brand name.
