🔥Slimming Down and Scaling Up: The Online Pharmacy Revolution💊

Happy Wednesday, Bullseye Traders! 

If pharmaceutical companies had their way, weight loss medication vending machines would be in every neighborhood. Instead, they’ve settled for alternative channels that are almost as accessible. In a first-of-its-kind move earlier this year, drugmaker Eli Lilly ($LLY) pioneered a program to sell its weight loss drugs directly to consumers, even teaming with Amazon ($AMZN) for deliveries. Meanwhile, Costco ($COST) recently introduced a service last week, offering GLP-1 weight loss drugs to its members.

Pocket pharmacy: Everyone is trying to skim off the top of the weight loss drug hype — even telehealth startups, which have begun offering their access to weight loss drugs, which could pose some serious risks for patients. Inconvenienced by long waitlists and costly visits, Americans are turning to companies like Hims & Hers Health ($HIMS), 23andMe’s ($ME) Lemonaid Health, and Ro for prescriptions ranging from hair loss to sexual health and anxiety.

These companies are also rolling out subscription services offering GLP-1 drugs or other weight loss alternatives starting at $79/mo.

Hims & Hers CEO Andrew Dudum predicts that its new weight loss venture could “deliver more than $100M of revenue in 2025,” with a 48% increase in subscribers due to the new launch.

AI drug dealers

The flexibility telehealth offers has a dark side: US regulators impose few restrictions on how and what telehealth companies can prescribe. With Americans seeking affordable medication options, companies are unlikely to refuse treatment — even if patients don’t need it. Telehealth firms stand to generate billions, which NYU’s Head of Medical Ethics warns has created “a conflict of interest.”

• Despite branding themselves as healthcare providers, many telehealth companies don’t talk to patients — relying on patients to identify side effects and possible drug interactions.

• Hims began testing artificial intelligence (AI) tools last year to recommend personalized treatments, and doctors are also using AI to help diagnose patients, raising questions about accountability if AI makes errors.

Forward-looking: Critics like Georgetown’s Dr. Adriane Fugh-Berman argue that this approach strays from traditional medicine, stating, “This is selling drugs to consumers.” However, regulators have mostly declined to investigate telehealth practices. Without intervention, these companies could reshape the healthcare landscape unchecked.

SHAKERS AND MOVERS

Alphabet, Freeport-McMoRan, & Pfizer

GOOG (+1%) Alphabet’s shares soared higher than a Google balloon on a sunny day, riding the winds of anticipation for its new cloud chip and Google Cloud Next event. Alphabet's stock has been climbing faster than a spider up a water spout, up over 14% this month. (Barron’s)

FCX (+3%) Freeport-McMoRan's shares dug deeper into the earth's riches, jumping 3% after BofA gave it a shiny upgrade, praising its 'blue chip copper exposure'. It's like striking gold in the world of stocks. (BI)

TAP (+1%) Goldman Sachs raised a toast to Molson Coors, upgrading it to buy from neutral, and setting a price target that's higher than a beer lover's spirits on a Friday night. Goldman predicts their earnings report will be more refreshing than a cold one on a hot summer day. (SA)

PFE (+1%) Pfizer's shares tiptoed upwards after unveiling promising results from its clinical trial on a respiratory syncytial virus vaccine. It's like finding a breath of fresh air in the pharmaceutical world. (Investing.com)

MDIA (+42%) MediaCo Holding saw its shares skyrocket like a radio wave after an SEC filing revealed Standard General owned a whopping 95% stake in the company. It's the kind of news that sends shockwaves through the market. (BI)

STREET SCOOPS: The Buzz Around Town

CNN: Tesla settled with the family of an Apple engineer who said the Tesla Model X Autopilot caused his fatal crash.

Bloomberg: Blackstone purchased Tricon Residential for $3.5 billion, leading to the biggest apartment rally since December.

Bloomberg: Intel unveiled its new AI accelerator, Gaudi 3, and claims it can outperform Nvidia’s H100 chip.

TC: Yesterday, Google Cloud announced its first custom-built Arm processor named Axion, claiming it offers 30% better performance than competitors.

Bloomberg: Boeing likely didn’t deliver any 777 freighters during the first quarter, adding to its cash woes.

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