Hims & Hers Partners with Eli Lilly on Weight Loss Drugs

Hims & Hers has secured a deal with Eli Lilly to offer the weight loss drugs Zepbound and Foundayo on its telehealth platform. Eligible patients can be prescribed and order tirzepatide (Zepbound) and orforglipron (Foundayo) at self-pay prices without leaving the digital health company's ecosystem. The agreement provides Hims & Hers pharmacies with direct access to the FDA-approved GLP-1 medications.

Prior to this partnership, Lilly's drugs were only accessible through the platform if a patient used the pharmaceutical company's own LillyDirect service. The move significantly expands consumer access to these branded treatments. Hims & Hers' platform integrates provider consultations, follow-up care, nutrition guidance, and clinical check-ins specifically for weight management.

The company has committed to not offering compounded copies of Lilly's drugs. It also pledged to protect independent clinical decision-making for its providers.

Platform Expansion and Prior Legal Challenges

The partnership builds on Hims & Hers' existing framework for weight loss care. It follows a similar deal struck with Novo Nordisk in March of this year for that company's medications, Wegovy and Ozempic.

This strategic shift came after a legal challenge from Novo Nordisk regarding compounded medications. Facing this lawsuit and broader regulatory pressure, Hims & Hers changed its approach in March to focus on providing access to FDA-approved medicines. The company abandoned earlier plans to launch a copycat version of Novo's oral pill.

Market Reaction and Financial Context

Investors reacted positively to the Lilly announcement. Shares of Hims & Hers jumped 8% on the Friday the deal was revealed.

The financial context, however, includes significant recent losses linked to the company's exit from the compounded GLP-1 market. Hims & Hers reported an $86 million loss in the second quarter, a stark contrast to a $43 million profit in the same period the prior year. This included $81 million in one-time costs related to winding down its compounded GLP-1 operations.

Previously, the company recorded a $92 million loss in the first quarter. That figure included $33 million in restructuring costs from writing down its compounded GLP-1 supply chain. Analyst Myles Minter of William Blair commented on the challenges in this sector, noting the drug’s “growth rate visibility is murky at best.”

The collaboration with Eli Lilly marks a continued pivot for Hims & Hers toward partnerships with major pharmaceutical manufacturers. It directly expands consumer access to FDA-approved weight loss drugs through a single, integrated telehealth platform.