According to zhichong finance, Andrew Dudum, CEO of remote medical platform company Hims & Hers Health (HIMS.US), said the company is preparing to launch a non-patented version of Novo Nordisk's (NVO.US) old GLP-1 weight loss therapy liraglutide in 2025. Liraglutide is sold in the form of Victoza and Saxenda, used to treat diabetes and obesity.

In the first half of 2024, liraglutide brought in 8.3 billion Danish kroner (equivalent to 1.2 billion US dollars) in revenue for this Danish pharmaceutical company, a decrease of about 22% year-on-year. This year, liraglutide, as part of the company's earlier GLP-1 product portfolio, lost its market exclusivity.

Hims & Hers Health co-founder Dudum added, "We have identified the core supplier for this new product, and we expect to complete testing and batch validation in the next few months and verify the authenticity certificate."

He made the above remarks at the company's financial report conference call. Previously, the California-based medical technology company exceeded Wall Street's expectations in the third quarter of 2024 and raised its full-year outlook, driving its stock price higher in pre-market trading.

In May of this year, Hims & Hers Health launched a composite version of Novo Nordisk's popular weight loss therapy semaglutide at a significant discount, with the drug name Wegovy.