Methodiq brand advertising.
Provided by: Methodic
Parent company of Ile Maquillage strangeness is expanding into medical-grade skin care with its new brand Methodiq, and online retailers are looking to compete. he And it helps address what’s been called a “broken health care system.”
Methodiq, a telemedicine platform developed over four years and launched on Tuesday, will offer 28 new products, including creams, supplements and cosmetics to address acne, hyperpigmentation and eczema. The lineup includes a mix of prescription and over-the-counter products, with prices ranging from about $29 to about $59.
Methodiq combines Oddity’s investments in biotechnology, AI-based computational imaging, and digital retail. This will give the company a slice of the fast-growing medical skin care market, which is expected to reach $113 billion this year, according to Research and Markets.
Methodic products.
Provided by: Methodic
The company’s expansion into medical skin care directly targets Hims, which offers popular anti-acne medications and other prescriptions through its telemedicine platform. This announcement hints at Oddity’s potential to move deeper into the healthcare space in the future.
“We have 60 million users on our platform. We know them very well. About half of them have a combination of acne, eczema and pigmentation. “We’ve never really had the opportunity to treat this condition before,” said Lindsey Drucker Mann, Oddity’s financial director. “That’s why dermatology is an obvious starting point for us. From there, there are many other medical areas we can expand into.”
Oddity, which is scheduled to report its 2025 third-quarter results on Wednesday, is not including Methodic in its 2025 and 2026 revenue guidance, primarily because the sales account for only a small portion of overall sales, Drucker Mann said. But she said the brand has “huge revenue potential down the road,” especially if Methodiq expands beyond just medical skin care.
She pointed to Hims’ goal of reaching $6.5 billion in annual revenue by 2030, which she said shows “what can be done with a successful telehealth platform.”
Still, this strategy is not without its challenges. Pharmaceuticals are highly regulated, competition in this field is fierce, and winning customer trust is difficult.
Additionally, telemedicine platforms can be difficult to scale securely. In March, the Wall Street Journal published research on Hims showing that some patients experienced serious side effects after taking the company’s hair loss drug. Most patients said they didn’t know the drug could have these side effects, but some felt they didn’t receive enough warning.
Unlike pharmaceutical companies, telemedicine companies are not required to disclose side effects or other risks in their advertising, according to the publication.
How Methodiq works
Oddity’s investments in computational imaging and biotechnology are powered by Methodiq.
In 2021, the company acquired Voyage81, a deep-tech AI-based computational imaging startup co-founded by a former head of research and development at one of the Israel Defense Forces’ elite technical units. Two years later, he acquired biotech startup Revela and founded Oddity Labs. The unit is working on creating completely new molecules with artificial intelligence that can be used in cosmetics brands and future product lines.
Voyage81’s imaging capabilities and Oddity Labs’ new molecules are both part of the Methodiq platform.
When consumers join Methodiq, they fill out information about their skin concerns and undergo a facial scan. This creates a map of your face and determines what state you are in. The doctor then reviews that information and recommends a set of products that the patient receives as a “kit” on a regular basis.
The kit includes widely available standard acne treatments such as the oral antibiotic doxycycline, as well as new approaches to anti-acne creams.
Methodic products.
Provided by: Methodic
For example, Methodiq’s Clindalaq product contains tretinoin, a prescription-strength topical retinoid used to treat acne and other skin concerns, but it also contains a mix of other ingredients intended to make it more desirable to consumers than standard creams prescribed by doctors. It contains hydrocortisone, which reduces the side effects associated with strong retinol, as well as aloe vera extract and vitamin E, which increase the product’s moisturizing properties.
CNBC tested the product at Oddity’s New York headquarters earlier this month and found it had a different texture and odor than generic tretinoin creams dispensed at pharmacies. The generic one was white and sticky, but the Kulindarak was smooth and melted into the skin without leaving any visible residue. There was no chemical smell either.
“We are able to offer these highly potent acne-fighting ingredients holistically in a formulation that is well-tolerated and helps aggressively combat side effects,” said Alex Kaplan, vice president of product development at Methodiq. “What we can deliver is a true beauty experience with prescription treatments.”
Expanding access to dermatology
Oddity’s foray into medical skin care opens up a huge market opportunity, in part because many people need skin care but don’t always have access to a dermatologist.
According to the American Academy of Dermatology, at least 50 million Americans suffer from acne, and nearly 1 in 10 have atopic dermatitis, the most common form of eczema. However, more than 60% of U.S. counties have no dermatologist at all, according to a 2018 study published in JAMA Dermatology.
Methodiq aims to address that need by providing access to medical professionals and products that address common skin concerns. Methodiq CEO Tom Amsterdam said clinicians will review every patient’s intake, recommend products and stay connected with patients throughout the treatment process.
Although the platform is not set up to handle video or audio telemedicine sessions between patients and doctors, patients can stay in touch with their doctors through a chat feature to update their progress and adjust treatment plans as needed.
All of the doctors are based in the United States, but not all are board-certified in dermatology, Amsterdam said.
Dr. Amy Wexler, a board-certified dermatologist based in New York City and not affiliated with Methodiq, said having a broader range of doctors on staff who prescribe treatments can increase access to treatment.
“In many parts of the country, patients don’t have easy access to dermatologists, which is why pediatricians, internists, and other health care providers are stepping in to prescribe medications to treat acne, hyperpigmentation, and eczema,” Wexler said in an email to CNBC. “This is safe as long as health care providers have knowledge about the drugs they prescribe, including proper use, potential side effects, and when patients should consult a dermatologist.”
