What's Going On With Hims & Hers Shares Today?

Hims & Hers Health Inc. HIMS shares are trading lower Tuesday after GoodRx Inc. GDRX announced a collaboration with Novo Nordisk to provide discounted access to two of the most in-demand GLP-1 drugs, Ozempic and Wegovy.

HIMS is taking a hit from negative sentiment. See what is driving the move here.

What To Know: Under the agreement, all strengths of the medications will now be available to eligible self-paying patients at $499 per month through GoodRx's platform.

The announcement is significant because it directly impacts Hims & Hers, which recently expanded into the GLP-1 space by offering telehealth-based access to weight loss treatments. Lower-cost access through GoodRx, a platform already used by millions of Americans seeking medication discounts, raises competitive pressure on Hims by offering patients a more affordable and established channel for the same drugs.

GLP-1 medications have become one of the most sought-after treatments for obesity and diabetes, with demand rising sharply in recent years. Hims has positioned itself as a telehealth provider making these treatments accessible online, while also bundling care services around them. However, GoodRx's new pricing deal with Novo Nordisk undercuts Hims' model by addressing one of the biggest barriers in the market, high out-of-pocket costs.

For investors, the move highlights intensifying competition in a sector that has become a key growth driver for Hims. While Hims has differentiated itself with a strong direct-to-consumer brand and subscription-based model, GoodRx's ability to lower prices in partnership with a drug manufacturer poses a challenge to its pricing power and market share.

The drop in Hims & Hers shares reflects concerns that lower pricing alternatives could slow the company's momentum in its weight-loss business, which has been a major focus of growth and investor optimism in recent quarters.

HIMS Price Action: Hims & Hers shares were down 6.44% at $42.18 at publication on Tuesday, according to Benzinga Pro.

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