Hims & Hers Health shares fell 15% on Thursday after Amazon introduced a competing telehealth service with upfront pricing for clinical visits, treatment plans, and free medication delivery for Prime members across various health and lifestyle concerns. Hims & Hers similarly connects patients with licensed healthcare professionals online for a range of treatments.
“Amazon’s service appears to offer similar convenience at a lower price point, which could be a strong competitive threat,” noted Michael Cherny, an analyst at Leerink Partners. Amazon confirmed that customers can view both telehealth and medication prices from Amazon Pharmacy before proceeding with care.
Citi analyst Daniel Grosslight observed that Amazon’s pricing could impact Hims & Hers, which recently saw its stock more than double after introducing compounded GLP-1 weight-loss injections like Wegovy. Amazon’s entry underscores the importance of Hims & Hers’ personalized treatment offerings, Grosslight added.
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