Health and wellness platform Hims & Hers Health, Inc. (NYSE:HIMS), which has gained traction for its obesity-related portfolio, has highlighted the ongoing difficulties Americans face in accessing branded GLP-1 medications.
To address the issue, the company launched a GLP-1 Supply Tracker, allowing individuals to report their experiences and advocate for improved access to essential medication.
The move comes despite last week's update when the FDA revised its shortage list to note that the .25 mg starter dose of semaglutide-based obesity med Wegovy is now available in the U.S.
Last month, the FDA removed Eli Lilly And Co's (NYSE: LLY) tirzepatide from its shortage list.
Since September, Hims & Hers has been collecting data on these access issues. Nearly 80,000 individuals on their platform reported difficulties in obtaining branded GLP-1s, with notable challenges in states with high obesity rates.
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In Texas, for example, nearly 5,000 customers shared their struggles in acquiring the needed treatment.
The company has been in dialogue with state and federal agencies, relaying its users' experiences to advocate for policy improvements.
The newly launched GLP-1 Supply Tracker aims to deepen understanding of nationwide access challenges.
Within its first week, nearly 7,000 individuals reported difficulties, particularly with medications containing semaglutide, which emerged as the most challenging to obtain.
Semaglutide is an active ingredient in Novo Nordisk A/S’ (NYSE:NVO) Ozempic and Wegovy.
The tool serves as a data collection and advocacy resource, providing the FDA with insights into supporting better healthcare access.
The shortage of branded GLP-1 medications reflects a broader issue in the healthcare landscape, with supply often falling short of surging demand.
Although no formal reports have comprehensively assessed the impact, Hims & Hers' research revealed that nearly 30% of their weight loss customers prescribed branded GLP-1s could not fill their prescriptions due to pharmacy shortages. This trend aligns with a surge in demand as awareness of these treatments grows.
The University of Southern California reported a 442% increase in semaglutide prescriptions from January 2021 to December 2023.
In September, Hims & Hers Health launched the Service Appreciation Initiative, offering compounded GLP-1 weight loss medications to some personnel for as low as $99 per month.
The initiative covers eligible U.S. military personnel, veterans, teachers, nurses, and first responders.
Price Action: HIMS stock is up 5.77% at $28.23 at the last check Wednesday.
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