NEW YORK, April 21, 2026, 15:33 (EDT)
Hims & Hers Health dropped 1.6% to $30.52 in afternoon trading Tuesday, sliding after Amazon rolled out a GLP-1 weight-management program via One Medical. Shares, which opened at $28.31 and touched a session low of $28.01, took a hit as the telehealth firm faces increased heat to revamp its weight-loss segment.
Hims is making a significant pivot, stepping back from its more controversial compounded GLP-1 model—where pharmacies tailor-make drugs for individual patients—and instead moving toward branded, FDA-approved options. Back in March, the company announced it would stop marketing compounded GLP-1s, striking a deal with Novo Nordisk to add Ozempic and Wegovy to its platform.
Amazon is rolling out a program that pulls together primary care, pharmacy, and virtual obesity treatment. According to the company, Amazon Pharmacy plans to bring same-day delivery to almost 3,000 cities, with a target of reaching 4,500 by year-end. Prescription renewals are available around the clock, starting at $29 for those with an existing GLP-1 script. “Fast, convenient medication access and clear, transparent pricing” are key, said Amazon Pharmacy vice president and general manager Tanvi Patel. Amazon News
Amazon edged up around 1.2%, bucking a weaker trend for weight-loss names. Eli Lilly slipped 1.3%, and Novo Nordisk’s U.S. shares dropped 2.3%. Both companies are known for their GLP-1 drugs, widely prescribed for diabetes and weight loss.
Hims is hitting Amazon just as turbulence builds. Earlier this year, the company shifted focus to lower-cost GLP-1 options, but mounting legal and regulatory scrutiny threw a wrench in that plan. In February, Reuters said Hims rolled out a compounded $49 copy of Novo’s Wegovy pill—a move that triggered an immediate backlash from Novo.
Hims CEO Andrew Dudum put a different spin on the company’s March shift, citing “tremendous growth opportunities” in the growing market for branded GLP-1 drugs. That’s where things stand: Hims is wagering it can hang onto customers with its care, coaching, and convenience, even as Amazon, Novo, and Lilly ramp up their own direct-to-consumer offerings. Hims Investors
Analysts didn’t view Amazon’s latest offering as a straight-up swap for Hims. Citi, for one, pointed out that the $29 on-demand service targets renewals only—not fresh prescriptions—calling it “not a replacement” for platforms like Hims. The bank stuck with its Neutral rating and $24 price target on Hims shares. TipRanks
Peptides are also coming into focus for investors. The FDA has marked July 23-24 for its Pharmacy Compounding Advisory Committee to weigh whether several peptide substances—BPC-157, KPV, TB-500, and MOTs-C—belong on the 503A Bulks List, which sets the ground rules for what substances compounding pharmacies can use.
Michael Cherny at Leerink Partners said to Reuters last week the FDA’s possible move “seems like a clear positive for Hims,” though he cautioned it would “not immediately translate into revenue.” Pat Carroll, Hims’ chief medical officer, said the company is looking into peptide access, aiming to stay within FDA guidance and prioritize consumer safety. Reuters
The upside isn’t straightforward. Regulatory timelines are still up in the air. Amazon’s presence in care delivery looms large. And Hims faces the challenge of proving that moving abroad and opening access to branded drugs can actually balance out the squeeze on compounded GLP-1 sales. Back in March, Reuters highlighted analyst doubts over whether that expansion will land soon enough to counter margin pressure.
Hims is set to report first-quarter results after the bell on May 11. The focus: weight-loss revenue, whether subscribers are sticking around, and clues on the strength of its GLP-1 play as Amazon keeps pushing into similar territory.
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