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Investing.com -- Hims & Hers Health (NYSE:HIMS) stock tumbled 11% Friday following comments from President Trump suggesting significant price cuts for popular weight loss medications.
During a Thursday press conference, Trump specifically mentioned Ozempic, referring to it as "the fat loss drug" when addressing questions about medication pricing. When asked if these drugs would cost $150 out of pocket, Trump stated, "They’ll be much lower. They’ll be much lower."
The telehealth company, which offers compounded obesity medications through its platform, saw its shares decline as investors processed the potential impact of price reductions on its business model. Trump provided no specific timeline for these negotiations but indicated prices would "come down pretty fast" and noted that alternatives to these medications exist.
The digital health platform has benefited from growing demand for GLP-1 medications, which have gained popularity for weight management. However, Trump’s comments suggest potential government pressure on pricing that could affect companies operating in this space.
This decline comes as the weight loss drug market has seen significant growth, with several telehealth providers competing in the increasingly crowded segment.
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