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Hims and Hers just shut down its dermatology business after stock slump on FDA's weight-loss drug decision

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Hims and Hers is shutting down Apostrophe, the skincare company it acquired in 2021, after a tumultuous month for the public telehealth company.
Hims & Hers Health Inc. has decided to discontinue its dermatology business, focusing instead on its core offerings in mental health and weight loss treatments. This strategic pivot comes in the wake of a significant stock price drop, which was influenced by the FDA's decision to delay the approval of a new weight loss drug. The company, which had previously expanded into dermatology to diversify its telehealth services, announced the closure of this segment to streamline operations and concentrate on areas with higher growth potential. The move reflects broader market dynamics where telehealth companies are increasingly focusing on specialized treatments to drive revenue and adapt to regulatory changes.

Read the Full Insider Article at:
[ https://www.msn.com/en-us/health/other/hims-and-hers-just-shut-down-its-dermatology-business-after-stock-slump-on-fda-s-weight-loss-drug-decision/ar-AA1AtDkj ]