Amazon's push into telehealth knocks shares of Hims & Hers

(Reuters) - Shares of Hims & Hers Health slumped 15% on Thursday after Amazon.com (NASDAQ:AMZN ) launched a rival service that offers upfront pricing for telehealth visits.

Amazon said it is introducing low, upfront pricing for a clinical visit, treatment plan, and free medication delivery for Prime members for a range of common health, beauty and lifestyle concerns.

Similarly, Hims & Hers connects patients to licensed healthcare professionals through its online platform and offers treatments for a range of conditions.

"Amazon's rollout appears to offer a similar idea of convenience at what appears to be a lower price point across the board. We don't know how successful it will be, but also note that this is a serious competitive threat being introduced to the market," said Leerink Partners analyst Michael Cherny.

Customers can see both the prices for their telehealth consultation and medication from Amazon Pharmacy before moving forward with care, Amazon said.

Given Amazon is offering much more compelling prices than Hims & Hers on most treatments, we do think this is a threat to Hims' core offering, said Citi analyst Daniel Grosslight.



Shares of Hims & Hers have more than doubled this year after the company began offering compounded GLP-1 weight-loss injections, such as Novo Nordisk (NYSE:NVO )'s Wegovy.

Amazon's move makes Hims & Hers' strategy to personalize treatment via compounding ever-more important, Grosslight added.

Source: Investing.com

Последние публикации
Analysis-Contentious COP29 deal shows climate cooperation fraying at edges
25.11.2024 - 07:00
Analysis-Business seeks details in face of mixed COP29 climate messages
25.11.2024 - 07:00
Adani bonds slide to year low as investors and lenders weigh bribery allegations
25.11.2024 - 07:00
Australia stocks higher at close of trade; S&P/ASX 200 up 0.28%
25.11.2024 - 07:00
Adani shares rise; CFO says publicly listed firms not subject to US indictment
25.11.2024 - 06:00
Asia stocks jump on gains in cyclical sectors, US optimism
25.11.2024 - 06:00
Australia PM plays down privacy fears of social media ban for children
25.11.2024 - 05:00
Adani bonds slide to year low as investors weigh bribery allegations
25.11.2024 - 05:00
Apple’s China suppliers rally as CEO Cook appears in Beijing
25.11.2024 - 05:00
US stock futures rise as Trump picks Bessent for Treasury role
25.11.2024 - 04:00
'Wicked,' 'Gladiator II' bring in $270.2 million in global box office
25.11.2024 - 04:00
Webush upgrades Snowflake, Elastic to Outperform on AI optimism
25.11.2024 - 04:00
Australia’s SG Fleet jumps on $785 mln takeover bid from Pacific Equity Partners
25.11.2024 - 04:00
Trump's FDA pick Makary boosts BioPharma confidence, says BMO
25.11.2024 - 04:00
Air New Zealand sees lower earnings for first half of 2025 as engine issues persist
25.11.2024 - 04:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?