Reported 3 days ago
Hims & Hers, the telehealth platform, announced it will lay off 68 employees, approximately 4% of its workforce, in response to a recent U.S. Food and Drug Administration ban on the manufacturing of compounded copies of the weight-loss drug Wegovy. Since the ban took effect on May 22, Hims' shares have dropped 14%. The company is shifting focus towards new growth opportunities, including partnerships to facilitate Wegovy access and expanding its offerings related to low testosterone and menopause treatments.
Source: YAHOO