Telehealth firms fall after Lilly launches single-dose vials of weight-loss drug

LifeMD

27/08/2024 14:55

(Updates)
    ** Shares of telehealth firms Hims & Hers Health  HIMS.N  
fall 5.7% to $15.14, LifeMD  LFMD.O  fall ~5% to $5.18, Teladoc
Health  TDOC.N  down 1.2% at $7.23 in early trading
    ** Eli Lilly  LLY.N  has begun selling single-dose vials of
its weight-loss drug Zepbound in the U.S. through its
LillyDirect website
    ** Zepbound's 2.5 milligram and 5 mg vials will be available
at respective list prices of $399 and $549 for a month's supply
- LLY
    ** HIMS offers compounded GLP-1 weight-loss injections at
$199 per month
    ** "With Lilly now offering Zepbound at a near 50% discount
to its autoinjector formulation through LillyDirect, (Zepbound)
compounders are likely to be challenged more forcefully," said
BMO Capital Markets analyst Evan Seigerman
        ** Lilly had sent 
    cease-and-desist letters
     to U.S. healthcare providers earlier this month to stop
promotion of compounded versions of its weight-loss and diabetes
drugs 
  
    ** Including session's moves, HIMS stock up ~72%, TDOC down
~66%, LFMD down ~38% YTD   

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))