WASHINGTON — Telehealth company Hims & Hers said Thursday it will launch a cheaper, off-brand version of the weight-loss pill Wegovy, just weeks after drugmaker Novo Nordisk launched its highly anticipated reformulation of the blockbuster medication.
The announcement from Hims is the latest example of the company's efforts to capitalize on the booming popularity of GLP-1 drugs like Wegovy, which have revolutionized weight loss treatment in the U.S.
For years, Hims has sold compounded versions of the weight-loss drugs, which were initially only available as injections. Novo Nordisk's Wegovy is the first of the medications to become available in a pill format.
The Danish drugmaker responded to the news Thursday by threatening to sue Hims, calling the new product ''an unapproved, inauthentic, and untested knockoff'' of semaglutide, the chemical name for Wegovy.
''Novo Nordisk will take legal and regulatory action to protect patients, our intellectual property and the integrity of the U.S. gold-standard drug approval framework,'' the company said in a statement.
Despite previous threats and warnings from the Food and Drug Administration, Hims has been able to keep its products on the market due to their status as compounded medications, a class of drugs that are customized and aren't subject to strict federal regulations.
San Francisco-based Hims said it will launch its compounded pill at $49 for the first month, as part of an introductory offer for new customers, followed by $99 per month. That's well below Novo's price of $149 per month.
In September, the FDA issued a warning letter to Hims over ''false and misleading'' marketing language which regulators said suggested its compounded products were the same as FDA-approved GLP-1 drugs.