Hims Reports Strong Earnings, Novo Nordisk Copycat Drug Coming in 2025

Core Insights - Hims reported third-quarter results that exceeded analysts' expectations, with a significant revenue increase driven by weight-loss drugs [1][2] - The company plans to launch a generic version of Novo Nordisk's diabetes and weight-loss drug as early as 2025 [1][4] - Bank of America raised its price target for Hims' stock, indicating potential for continued user growth [1][3] Financial Performance - Hims achieved a 77% year-over-year revenue increase, reaching $401.6 million [2] - Revenue from weight-loss drugs is estimated to be between$63 million and $70 million for the latest quarter, showing growth from the previous quarter [3] Strategic Plans - Hims intends to increase marketing spending in the fourth quarter to drive user growth [3] - The company has confirmed a core supplier for the upcoming generic drug and is in the process of completing test and batch validation [4]