Hims, Inc. is set to open its first mail-order pharmacy next year in Columbus, Ohio.
). Despite the critiques, Hims is still the leading company in the scorching-hot direct-to-consumer drug industry. Competitor Ro made headlines in April for two back-to-back funding rounds of more than $80 million each, and earlier this year Hims reached unicorn status with a valuation of $1 billion, according toThis Hims-owned pharmacy will help the company’s continued growth, says Melissa Baird, COO of Hims.
Baird says that having a brick-and-mortar pharmacy will enable faster delivery to customers who live in the Midwest and in rural areas closer to the company’s new Ohio location. It will also ensure continued service for customers if the company is unable to provide delivery through a third-party pharmacy. “It’s more an investment in making sure we have a reliable, scalable delivery service for all of the patients,” she says.
Before the pharmacy opens, however, it will have to overcome some legal hurdles. Pharmacy licensing “is a little bit of a Russian doll scenario,” says Anne O’Brien, a healthcare lawyer at Quarles & Brady. Hims will have to employ pharmacists with separate licenses to dispense medication in each state the ship to, and finding a pharmacist with multiple out-of-state licenses is “like finding a silver unicorn," O’Brien says.
Despite these potential challenges, Hims plans to open its pharmacy by the end of March 2020. “Opening a pharmacy is a layer of complication,” says Baird, but “it just makes sense for us.”
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