US EditionHims & Hers Health and Novo Nordisk end lawsuit over weight loss medications, enter collaboration
Hims & Hers will sell Novo Nordisk’s FDA-approved GLP-1 drugs on its U.S. telehealth platform after ending compounded drug sales amid rising demand and regulatory pressure.
- On Monday, Novo Nordisk dropped its lawsuit after Hims agreed to sell Wegovy and Ozempic, with CEO Mike Doustdar saying, 'We have decided to drop the current court proceedings...'
- Hims had been selling compounded semaglutide using a regulatory loophole and planned an off-brand Wegovy pill priced at $49, prompting Novo Nordisk to threaten legal action last month.
- Shares reacted after Friday's move when Hims & Hers shares jumped more than 40% in Monday morning trading and rose nearly 40% within an hour, while Novo's stock increased 1.7%.
- Novo warned it may refile the lawsuit, while Hims said existing patients on compounding semaglutide can transition to FDA-approved medicines when clinically appropriate.
- Semaglutide's patent is protected in the U.S. until 2032, and with supply constraints easing, the deal helps Hims avoid recent regulatory problems and recoup losses earlier this year.
106 Articles
106 Articles
Hims Teams up with Novo to Compete for Weight Loss Scripts
Novo Nordisk and Hims & Hers just went through the pharma equivalent of an enemies-to-lovers arc. The two struck a deal Monday for Hims to offer official versions of Novo’s GLP-1 drugs Ozempic and Wegovy. The team-up comes months after Novo sued Hims for selling knockoffs. At the center of Novo’s now-dropped lawsuit was a compounded copycat of the Wegovy weight-loss pill Novo started offering this year. The blockbuster pill has already racked u…
Stock Market Today, March 9: Hims & Hers Health Soars on Novo Nordisk Weight-Loss Drug Deal
Hims & Hers Health (NYSE:HIMS), a direct-to-consumer telehealth platform, closed Monday at $22.15, up 40.72%. The stock moved higher after announcing a collaboration with Novo Nordisk to sell branded GLP-1 weight-loss drugs. Investors are watching how the shift from compounded to FDA-approved medications affects growth and margins. Trading volume reached 168.1 million shares, about 557% above its three-month average of 25.6 million shares. Hims …
Hims & Hers to partner with Novo Nordisk and stop selling compounded GLP-1s
Telehealth company Hims & Hers on Monday announced a "strategic shift" in its business model, partnering with pharmaceutical company Novo Nordisk to sell its blockbuster GLP-1 medication and stop selling the "copycat" compounded versions it has long advertised. In a press release, Hims & Hers said it will "no longer advertise compounded GLP-1 offerings on...
Hims & Hers, Novo End Dispute and Announce Collaboration on Wegovy and Ozempic
Novo Nordisk and telehealth company Hims & Hers have ended their dispute over weight loss medications, the companies said on March 9 as they announced a new partnership. Novo is dropping a patent infringement lawsuit against Hims & Hers, the Denmark-based pharmaceutical company said in a statement. And Novo’s weight loss medications—Ozempic and Wegovy, both approved by the Food and Drug Administration—will be offered through Hims & Hers starting…
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