Yahoo Finance

Hims and Hers announcing it's going to offer Eli Lilly's GLP-1 drugs after already offering Novo Nordisk weight loss drugs. Yahoo Finance's Anjalee Khemlani is here with the details, Anj.

That's right, Josh. Well, we know that of course, Hims is one of those platforms, telehealth platforms that offers, for a cash price, some of these GLP-1 drugs. They have already been offering Novo Nordisk semaglutide, the compounded version, as well as the branded versions, and now is opening the door for Eli Lilly's products. That includes the older GLP-1s, the liraglutide and the generic version of that, so not the branded Saxenda and Victoza, as well as the blockbuster ones, of course, Mounjaro and uh, Zepbound. And that is for a sticker price of 1,800 or almost $1,900 a month, and that is because they have the cash pay uh, population. So that's uh, good news. This uh, adds to the partnerships that Eli Lilly has been increasing with telehealth platforms to uh, sort of contribute to access to these GLP-1 drugs. Already they have through Lilly Direct, names like Form Health, 9am Health, and Knownwell. They also had a partnership with Ro that they announced, which is sort of a competitor for Hims. So this really tells you the story of how they're opening up the doors for that competition.

Switching gears, Anj. Johnson & Johnson facing a setback with its talc litigation. What happens next there?

Yeah, so we found out of course earlier that the judge tossed out this bankruptcy case, and the question was then what is uh, Johnson & Johnson going to do. So we heard from their executives earlier today, uh, talking about how they're going to go back to the multi-district litigation. They had already had several cases uh, through that uh, avenue, and according to them, won 16 of 17 in that way. So that they're looking that as maybe more uh, favorable for them to kind of settle the rest of the cases. They do not see a path to continue through bankruptcy, and they're also expecting many of the cases that came through the bankruptcy uh, build out to be ineligible for this MDL uh, pathway. So that's why they're looking at it as potentially helping to reduce the burden. Um, we have seen the stock of course, down on the news because Wall Street's not really liking this continued uncertainty for the litigation overhang um, that you see there down uh, more than 7%, and that's been growing since earlier today. Uh, we also know that of the uh, 80 75% uh, buy-in that they needed for the bankruptcy, they got over that threshold, 83%, and the judge questioned how they got to that point, and throwing out uh, that. Important to note that even though Wall Street doesn't like it, the total $8 billion that they had set aside in the reserves was only 2% of the company's market value. So like you're talking about a company that has $20 billion cash flow uh, over the over last year. Uh, we heard from J&J CFO, Joe Wolk, who we know has been a friend to the show, saying that right now we're accruing a reserve for those amounts, but we anticipate they will be nowhere in the range of where we were otherwise proffering to settle this case. This is referring to the multi-district litigation, and in order to obtain uh, finality in the near term through the bankruptcy proceeding, that was their goal. Now they're saying that they do still anticipate a near-term resolution, maybe not as quickly, but they also need to wait for the number of cases to kind of fall off. So that's where things stand right now.

Thanks for watching.

Thank you, Anj. Appreciate it.