Weight-loss drugs may not just be for the rich, famous, or generously-insured for much longer.
What happened: Hims & Hers, a U.S. online pharmacy, will sell an injectable weight loss drug that uses semaglutide, the same active ingredient as Ozempic and Wegovy.
The difference? While those name-brand drugs cost around US$1,350 per month without insurance, Hims’ drug will sell for US$199 per month.
- Hims can sell the copycat drug because of a U.S. Federal Drug Administration (FDA) rule that lets pharmacies sell “compounded” versions of drugs in a shortage, despite drugmakers like Eli Lilly and Novo Nordisk owning patents for their versions.
- Compounded drugs, however, don’t face the same FDA review process as name-brand drugs, and the health regulator has warned that using them comes with safety risks.
Why it matters: It’s a strong signal that the long-term price trajectory for weight-loss drugs is down as more suppliers enter the market, which means many more people will be able to afford to use them in the future.
In Canada: Hims doesn’t operate in Canada, but some homegrown online pharmacies like Felix offer similar weight-loss drugs, albeit at a higher price point.—TS