Health
Hims to Buy a Compounding Pharmacy to Make Weight-Loss Drugs
- Company plans to close $31 million deal by the end of 2024
- Demand for weight-loss drugs boosted second-quarter sales
Source: Hims & Hers
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Hims & Hers Health Inc. plans to buy a compounding pharmacy to make knockoff weight-loss drugs, doubling down on one of the hottest markets in health care as questions swirl about its long-term potential.
Hims said in a filing it agreed in July to pay about $31 million in cash and stock for a US-based compounding pharmacy, which can make copycat versions of the weight-loss drugs and other medicines. Hims declined to disclose the name of the facility. The company started selling versions of Novo Nordisk A/S’s blockbuster drugs made by a different compounding pharmacy in May.