Shares of Hims & Hers Health (HIMS) sank in intraday trading Tuesday on new competition for lower-priced weight-loss drugs from Eli Lilly (LLY).

Lilly 澳洲幸运5官方开奖结果体彩网:announced that it would be selling the two lowest doses of its popular injectable obesity drug Zepbound in single-use vials that patients would measure themselves.

Lilly said those would be priced at half the cost of the pre-filled vials currently prescribed. In addition, the medicine would be sent through the company's LillyDirect self-pay channel, helping those not eligible for Zepbound's savings program or without insurance coverage to afford it.

Hims & Hers Offerꦚs Reduced-Priced Copies of Popular Drugs

That was bad news for Hims & Hers Health, which offers direct-to-consumer copycat versions of prescription drugs at reduced prices. In May, it began selling an injectable with the same key ingredient that's in Novo Nordisk's (NVO) popular weight-loss treatments Wegovy and Ozempic. Hims & Hers also said in its recent earnings call that it planned to have one similar to Zepbound "in the near future."

Hims & Hers Health shares sank 7% to $15.08 as of 11:15 a.m. ET Tuesday but remain nearly 70% higher year-to-date.