jetcityimage With Eli Lilly ( NYSE: LLY ) intensifying its legal efforts against compounded versions of its GLP-1 weight loss therapy, tirzepatide, Bank of America on Thursday defended Hims & Hers Health ( NYSE: HIMS ), which recently announced a similar product line and sold off on the news. Last month, the San Francisco, California-based telehealth platform launched compounded GLP-1s containing semaglutide, the active pharmaceutical ingredient of Novo Nordisk’s ( NVO ) popular weight loss drugs Ozempic and Wegovy, at a sharp discount to branded products. On Thursday, Lilly ( LLY ) filed additional lawsuits against business entities selling compounded versions of tirzepatide, falsely referring to their products as Mounjaro and Zepbound, its FDA-approved diabetes/weight loss drugs.
While HIMS expects to launch compounded tirzepatide within the next few months, BofA analyst Allen Lutz said he doesn’t think the company is making misleading claims about its GLP-1 products. “Looking at HIMS’ website, the company does not appear to make misleading claims about the facilities within which the compounded products are manufactured or the products themselves,” he added, reaffirming the Buy rating and $26 target on the stock. More on Hims & Hers Health Hims & Hers: The Undervalued Gem Poised For Growth Hims & Hers: Compounded Semaglutide Boost Unlikely To Last - Moderate Risks Ahead Hims & Hers: Ready For Takeoff Hims & Hers cut to Neutral at Citi on recent rally Hims & Hers .
