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Hims rises after it says it now offers “full range” of FDA-approved GLP-1s

Hims providers can now send prescriptions to Eli Lilly’s direct-to-consumer pharmacy.

Hims & Hers rose in early trading after it announced that it now allows its providers to prescribe medications that are fulfilled by independent pharmacies, meaning its members can access all FDA-approved GLP-1s.

Hims providers can now send prescriptions for Eli Lilly’s popular weight-loss medications to the drugmaker’s direct-to-consumer pharmacy, Lilly Direct. Previously they were able to send prescriptions only to partner pharmacies.

Hims has historically pushed copycat versions of injectable GLP-1s. It launched a copy of Novo Nordisk’s Wegovy pill earlier this year, which was ultimately pulled after massive blowback. Hims now partners with Novo to distribute its branded GLP-1s. (Today’s development is not a partnership with Lilly.)

In announcing the move, Hims CEO Andrew Dudum compared his company’s business model to Netflix.

“By offering a full range of FDA-approved GLP-1s on our platform, we’re similarly giving our customers more choices through all the tools we have available — and we’ll continue to push here on behalf of everyone who depends on us for their care, Dudum said in an X post.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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