Hims Sales Miss Estimates as Telehealth Competition Increases

The company has faced increased pressure from other telehealth providers expanding their offerings in areas such as weight-loss treatments and sexual health medications. Hims has grown rapidly in recent years by providing online consultations and prescriptions for a range of conditions.

The sales miss comes as the broader telehealth industry sees more entrants and greater pricing competition. Industry observers have pointed to the sector's expansion during the COVID-19 pandemic and its continued evolution afterward.

Squibb announced a partnership with Hengrui Pharma covering more than a dozen early-stage programs. The deal represents a notable example of a global pharmaceutical company seeking medicines from China for its development pipeline. The agreement is intended to restock the company's early-stage pipeline. Terms of the partnership were not disclosed in the initial announcement.

Pharma will market the newly approved breast cancer drug Veppanu under a commercialization agreement signed with Arvinas and Pfizer. The arrangement allows Rigel to handle commercialization of the treatment in the United States. Roche received European clearance for a new blood test designed to detect early Alzheimer’s disease.

The test aims to identify the condition at earlier stages than previous methods. BridgeBio submitted an application to the FDA seeking approval of its drug encaleret to treat patients with autosomal dominant hypocalcemia type 1, also known as ADH1. The rare genetic disease causes low calcium levels in the blood.

Separately, ViiV Healthcare lost a patent case related to its HIV treatment. The outcome could affect the company's exclusivity for the medication. A series examining the alcohol epidemic in the United States launched on the same day. The reporting investigates factors including the influence of the alcohol industry and gaps in treatment options for addiction.