In this article, Hims & Hers Health has donated $1 million to President-elect Donald Trump’s inauguration fund, as confirmed by CNBC on Tuesday. The company provides direct-to-consumer treatments for various conditions such as weight loss, erectile dysfunction, and hair loss. This donation is part of a trend where tech companies are seeking to establish favorable relationships with the new administration. OpenAI CEO Sam Altman and Meta had previously announced $1 million donations to the inaugural fund, and Amazon and Apple CEO Tim Cook are also reported to have contributed.
Hims & Hers stated to CNBC, “At Hims & Hers, we stand with leaders and advocates who are committed to improving America’s broken healthcare system.” Axios was the first to report on Hims & Hers’ donation. The company gained significant attention in the digital health sector last year, particularly due to the success of its weight loss program.
In May, the company started offering compounded semaglutide through its platform as part of its weight loss program. Semaglutide is the active ingredient in Novo Nordisk’s medications Ozempic and Wegovy, which can be expensive without insurance. Compounded semaglutide is a more affordable alternative produced when the brand-name drugs are in short supply.
The future of compounded GLP-1s in the U.S. is uncertain, given conflicting opinions within Trump’s circle. Robert F. Kennedy Jr., Trump’s nominee for the Department of Health and Human Services, has criticized GLP-1s, emphasizing lifestyle changes for obesity management. Dr. Marty Makary, Trump’s nominee for the Food and Drug Administration, has ties to a telehealth company that connects consumers with physicians who can prescribe compounded GLP-1s.
Elon Musk, a close associate of Trump, has voiced support for GLP inhibitors, stating that making them more affordable would greatly benefit Americans’ health and quality of life. Hims & Hers expressed its intention to collaborate with the incoming administration and present its perspective on the value of these medications during an event in New York City attended by CNBC reporters late last year.
