Tässä rautalangasta, mitä HIMS CFO Yemi Okupe kertoo yrityksen GLP-1-näkymistä Cannacord Genuity 44th Annual Growth Conference & Private Company Showcasessa. GLP-1-kysymys alkaa kohdassa 8:40. Toivottavasti tämä selventää GLP-1-näkymiä, jotka on varmasti pyörinyt monen sijoittajan ja sijoittamista harkitsevan mielessä.
So could you maybe recap for the broader audience why sort of why you’re confident that in your ability to continue compounding at scale after semaglutide and other GLP-one sort of ingredients are no longer on the shortage list?
Yes, I think it’s a really great question. And so we’ll provide a little bit of context around like how we’re able to do it today. And so effectively, what we see is thousands of consumers are coming to us on a daily basis stating that they’re having problems even today accessing branded medications. And so as a result of that, many of the medications, such as semaglutide, terzepatide, remain on the FDA shortage list. And so what that enables you to do is compound dosages at the commercially available dosage levels.
And so that’s what we rolled out at the start for GLP-1s. But when we look across our other specialties, there’s really 2 foundational principles that irrespective of a shortage list, like, are game changing for the platform and we believe are unique to hims and hers. The first is the aspect of personalization, right? And so if you step back and you look at the platform, at scale, we’re one of the few platforms that has the ability to see the end to end journey of a user, who came on to the platform, who opted to switch to a different medication, who opted to switch to a different dosage, what were the side effect profiles that they ran into, you know, and so forth. So what that enables us to do is leverage technologies like Med Match, combine that with the technology that we have in the pharmaceutical facilities to offer personalized dosages.
So it may be, for a subset of consumers that the low dose of a commercially available product may not be strong enough, but the high dose comes with too many side effect concerns. And so our ability to identify those users, offer them a personalized treatment, we view that as being fundamental to the platform irrespective of the shortest list and will be truly compelling.
And the compounding laws that enable personalization, this is not a new phenomenon. These laws have existed for decades. And so historically, they’ve been honored by all the players in the industry.
And so we’re confident that they will continue to do so. What that does do is, in a post shortage world, the swim lanes for the commercially available products, those products will go away and the subset of users will opt to switch for personalized products.
That does narrow the addressable population, but in an environment where 100,000,000 people across the country are suffering from weight related challenges, our view is that there are still millions of users or potential consumers that would benefit from personalization. The second aspect, you know, that again holds true across all specialties is really the concept around having a breadth of holistic options. And so you look across all of our specialties, you’ll notice that.
And in our view, weight management is not going to be any different. To start with the category, we launched oral based solutions. That business in the span of 7 months scaled to north of 100,000,000. We’ll continue to iterate on that product. We’ll also look to bring on the personalized dosages like we talked around.
As supply becomes sustainable, branded products will also be an option. Then lastly, there are other GLP ones such as liraglutide that are nearing the ends of their patent lives. We’ll also look to bring many of those onto the platform.
So I think in summary, similar to what we’ve done in other specialties, irrespective of a shortage environment, the concept of pairing personalization with breadth of choice has been the winning formula, and we don’t view weight management as any different.
Got it. And can you maybe talk about the halo effect of the GLP-one offering on your platform overall?
Yeah. I would say that, I think that there’s our platform and there’s, like, the broader society. And so I think we saw this when we launched the oral medication, kits, is that GLP-1s have made it socially acceptable to view weight management as a medical condition versus purely lifestyle. And so I think the platform, even when it was just oral based solutions, benefited from that immensely. Like that’s been one of our fastest scaling specialties because GLP ones have elevated the awareness that weight management can be a medical condition.
I think with respect to GLP-one specifically on our platform, I think it’s a little bit of a symbiotic relationship where because we offer it, that has generated more eyeballs in the platform. But also I think that, you know, when we saw this in the oral solution as well, there are a ton of people that are suffering from weight related challenges and they are looking for a solution. I think that HIMSS and HERS has also benefited from years of building a trusted brand, years of becoming known for personalization and quality, where GLP ones are successful result of those investments. Users tend to associate our products with high quality and trust. So as a result of having that, they’re more amenable to taking the offering and trusting that the offering will be of high quality.
