Hims & Hers opens a waitlist for $149 Wegovy and Ozempic under the Novo deal

Hims & Hers Health opened a waitlist for branded Wegovy and Ozempic priced at $149 a month through its partnership with Novo Nordisk, the lowest self-pay price the telehealth company has offered for either brand of semaglutide ^[1].

The offer builds on a pivot that began in March 2026, when Hims and Novo Nordisk resolved a legal dispute and announced a joint arrangement to sell the manufacturer's branded GLP-1 drugs through the Hims platform ^[1]. That move away from compounded semaglutide followed the FDA's removal of semaglutide from its drug-shortage list and the agency's push to restrict non-FDA-approved compounded versions, which had let Hims sell a cheaper, higher-margin product ^[2].

The company has said the shift compressed gross margin by roughly 12 points, from 76 percent a year earlier to 64 percent in its most recent quarter, and cut adjusted EBITDA margin from 15 percent to 8 percent over the same stretch ^[1][2]. Hims reported filling more than 125,000 Wegovy shipments within six weeks of the branded launch ^[1].

The numbers show the size of the trade-off. In the second quarter of 2026, Hims reported revenue of $753.2 million, above the roughly $699 million analysts expected, but posted an adjusted loss of $0.10 a share versus a forecast loss of $0.07 ^[2]. The quarter also included an $86.3 million GAAP net loss and $68.2 million in negative free cash flow, even as the company added 300,000 net subscribers ^[2]. Full-year 2026 revenue guidance was raised to a midpoint of $3.2 billion, up from $2.8 billion earlier in the year, while adjusted EBITDA guidance was cut to a range of $275 million to $325 million from an earlier $300 million to $375 million ^[2].

Why it matters for patients

For people weighing GLP-1 costs, $149 a month is the cheapest branded Wegovy or Ozempic price Hims has advertised, and it comes without the regulatory cloud that hung over compounded versions after FDA action against non-approved GLP-1 products ^[1][2]. But the offer is a waitlist, not a guaranteed monthly price for every patient; the sources do not say whether insurance is involved, how long the waitlist might run, or whether $149 applies to all doses and durations.

The pricing move also reflects a company-level bet, not a permanent price cut confirmed by Novo Nordisk. Hims has told investors the branded shift is deliberately margin-dilutive in the short term because it expands the pool of patients the company can legally serve, even though it costs more per prescription to fill ^[1][2]. Whether that $149 price holds, rises, or is later restricted by supply, insurance rules, or new agreements between Hims and Novo Nordisk is not addressed in the available sources.

What happens next

Hims management has told investors it aims to return to net profitability in 2027, treating the current margin compression as a one-year cost of the shift to branded medication ^[2]. Analysts tracking the stock say the test will be whether gross margin holds near 64 percent through the rest of 2026 rather than eroding further, and whether full-year adjusted EBITDA lands near the $275 million to $325 million guidance range ^[2]. Those quarterly results, expected later in 2026 and into 2027, will show whether the $149 branded offer scales into a stable, lower-cost pathway for patients or whether pricing shifts again as the company works to rebuild the margin it gave up in the move away from compounded semaglutide ^[2].