Even Hims & Hers is giving Trump money

The millennial-focused digital health company Hims & Hers (HIMS+1.34%) has donated $1 million to President-elect Donald Trump’s inauguration fund.

It joins the growing ranks of corporate donors to the fund, including Facebook parent company Meta (META-2.28%), Amazon (AMZN-2.48%), OpenAI, Uber (UBER-0.28%), and Bank of America (BAC+1.37%).

The donations are viewed by some as an attempt to curry favor with the incoming administration. For instance, on Tuesday, outgoing U.S. Federal Trade Commission (FTC) Chair Lina Khan remarked that it’s only natural for Amazon and Meta to seek favorable terms with the Trump administration regarding antitrust cases initiated by the previous administration.

Hims & Hers’ donation was first reported by Axios.

“At Hims & Hers, we stand with leaders and advocates who are committed to improving America’s broken healthcare system,” the company told Quartz in an emailed statement confirming the donation. “For far too long, this system has forced Americans to struggle – financially and with limited access — to get essential medications and the care they need, especially for stigmatized conditions.”

Hims & Hers was founded in 2017, known as just “Hims” at the time, as a platform for men to get prescriptions online for erectile dysfunction and hair loss medications. Since then, it has expanded to offer treatments for men and women to address skin care, anxiety, and overall sexual health.

Its stock has surged over 200% in the last 12 months after the company started offering more affordable and off-brand versions of popular weight-loss drugs last year.

In May Hims & Hers started offering its customers a compounded version of semaglutide, the active ingredient in the diabetes and weight-loss drugs Ozempic and Wegovy, both of which are produced by Novo Nordisk (NVO-2.59%).

Compounding is the process of customizing an approved drug by a state-licensed pharmacist or physician to meet the specific needs of an individual patient. Typically, the Food, Drug, and Cosmetic Act prohibits compounding drugs that are just copies of commercially available medications. However, drugs that are in shortage, which semaglutide currently is, are not considered by the U.S. Food and Drug Administration (FDA) to be commercially available.

The future of the compounded weight-loss drug market under the Trump administration remains uncertain.

Trump has nominated Robert F. Kennedy Jr. to lead the U.S. Department of Health and Human Services (HHS), which oversees the FDA.

Kennedy has repeatedly been critical of pharmaceutical solutions to obesity.

However, his views contrast those of another Trump supporter — Elon Musk.

Musk, the richest person alive and the co-head of President-elect Donald Trump’s new Department of Government Efficiency (DOGE), has been supportive of expanding access to affordable GLP-1 weight-loss medications like Ozempic.