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

Core Insights - Hims and Hers is shutting down its dermatology business by discontinuing Apostrophe, a skincare startup acquired in 2021 for $190 million [1][9] - The decision aims to simplify dermatology products and operations, centralizing skincare offerings for customers [2][3] - The shutdown is not related to pressures on the company's stock or changes in its weight-loss business [4][5] Financial Performance - Hims and Hers reported a 69% revenue increase to $1.48 billion in 2024, with $225 million generated from its GLP-1 weight-loss offerings [6] - The company anticipates $725 million in revenue from its weight-loss business in 2025, excluding commercially available doses of semaglutide [7] - The stock has increased by 40% since the beginning of the year, peaking after a Super Bowl commercial and the acquisition of Trybe Labs [8]