Hims House

In this engaging discussion, Dr. William Seeds, a board-certified orthopedic surgeon and pioneer in peptide therapy, shares his transformative journey from finance to medicine after a personal tragedy. He delves into the fascinating world of peptides, highlighting their potential as 'magical' drugs and the skepticism they face. The conversation explores the U.S. lag in peptide adoption compared to Europe and Asia, the influence of Big Pharma, and how Hims plans to navigate the legal landscape to introduce innovative peptide products in the coming decade.

Shaun Noorian, the founder and CEO of Empower Pharmacy, leads the world's largest compounding pharmacy, advocating for personalized medicine. He dives into the misconceptions about GLP-1 drugs and the ongoing legal battle against Eli Lilly over tirzepatide patents. The discussion highlights the critical role compounding plays in healthcare, not as a loophole but as a necessary service. Noorian also outlines future trends in hormone therapy and peptides, navigating the complexities of regulations and patient safety in an evolving industry.

Peter Pitts, President of the Center for Medicine in the Public Interest and former FDA Associate Commissioner, dives into the unchecked dangers of compounded GLP-1 medications. He critiques the FDA's regulatory gaps and highlights the risks posed by unregulated foreign supply chains. The conversation tackles ethical concerns surrounding corporate funding and the pitfalls of 'phony personalization' in treatment. Pitts debates the future of GLP-1 regulations and the potential for more stringent enforcement or outright bans.

A deep dive reveals a surprising revenue miss for HIMS, sparking debates on slowing subscriber growth and the implications of a flat core performance. The hosts ponder if this is just a transition phase or a warning sign for the company's future. They examine the effects of a recent acquisition and the ambitious plans around AI and at-home testing. With discussions on international expansion and product diversification, the conversation is lively, balancing concerns with a cautious optimism about what lies ahead.

David Maris, a renowned Wall Street analyst and founder of Wall Street Beats, discusses his bullish outlook on Hims, highlighting its growth potential and recent acquisition of ZAVA. He dives into the implosion of its partnership with Novo Nordisk and the associated legal risks. Maris shares insights on Hims' expansion into Canada and its potential to become a comprehensive healthcare platform. He also examines the market dynamics of GLP-1 treatments and the implications of high short interest on Hims' stock valuation.

The hosts delve into major media coverage, including a notable piece in Bloomberg Businessweek and the Washington Post's take on recent corporate upheaval. They explore Hims' ambitious expansion into Canada with generic medications, alongside the emergence of a new blood diagnostics division. Key insights on financial trends and app performance are highlighted, while a staggering 38% short interest raises eyebrows. The analysis touches on market dynamics and the complexities surrounding recent partnerships, packing this discussion with financial intrigue.

Thanks to our partner, Godel Terminal — a full trading terminal at less than 10% of the price of a Bloomberg! CLICK HERE to get 25% off your first month and lock in lifetime access for $80/mo.In episode 37 of Hims House, patent attorney Gaston Kroub joins Jonathan Stern and Patrick Lester (Bayside) to unpack the legal fallout from Novo Nordisk’s split with Hims. With speculation swirling around a potential lawsuit, Gaston explains why a patent case is unlikely — and why, if Novo sues, they may instead lean on trademark or false advertising claims. The discussion dives into Novo’s patent portfolio, including the critical ‘343 patent, and how ongoing lawsuits against Empower and Strive could shape Novo’s next move. Gaston breaks down what a lawsuit would look like, the most likely outcomes, and why compounders like Hims remain legally protected despite accusations of skirting the law’s intent. The conversation closes with a look at the Supreme Court ruling that is responsible for the compounding exemption, and why any legislative fix may be years away.00:00 – Godel Terminal00:54 – Intro02:43 – Gaston’s Legal Background and Expertise04:46 – Will Novo Nordisk Sue Hims?17:02 – How Novo Has Targeted Other Compounders21:54 – FDA Law and Whether Novo Can Sue Directly26:57 – Breaking Down Novo’s Patent Portfolio39:10 – Lawsuit Scenarios41:19 – How Preliminary Injunctions Work42:53 – Why Novo Might NOT File A Lawsuit45:43 – Legal Precedents and Comparisons46:36 – What Makes Compounders Vulnerable in Court52:46 – Possible Outcomes If Novo Files a Lawsuit01:00:29 – Future of Compounding & Possible Congressional Actions01:16:15 – Final Takeaways Get full access to Hims House at himshouse.substack.com/subscribe

In this discussion, Adam May, a keen biotech investor and dermatologist, unpacks his bearish stance on HIMS. He shares insights on the implosion of the HIMS-Novo deal and navigates the rocky waters of GLP-1 legality and market risk. May also reflects on his trading experiences and the ethical complexities surrounding HIMS' compounding model. Additionally, the conversation touches on AI's potential impact on drug development and the challenges posed by competition in the healthcare sector. Tune in for a blend of sharp critique and industry intrigue!

Mads Christiansen, a Danish GP and CEO of New Deal Invest, and Sekander Amini, a UK pharmacy owner and Hims investor, share insights on the European healthcare landscape. They tackle how Hims’ U.S. strategies need to adapt to Europe’s free healthcare systems and discuss the benefits of telehealth amidst NHS challenges. They explore the potential of personalized medicine, AI innovations, and the complexities of pharmaceutical advertising across different regulations, revealing a future of streamlined, tech-driven healthcare solutions.

In this engaging discussion, Max Marchione, founder of Superpower and a pioneer in health tech, talks about the future of personalized medicine driven by AI. He outlines how AI could reshape the patient experience, making it the go-to source for healthcare advice. Marchione also shares insights on the crucial shift from reactive to preventative healthcare, the potential of peptides, and the branding strategies needed to connect with consumers. Additionally, he reveals Superpower's vision for global expansion and innovation in the healthcare sector.