Novo Nordisk ends legal proceedings against Hims & Hers Hims & Hers shares surged after Novo Nordisk announced it would drop its patent infringement lawsuit against the telehealth provider. The decision followed an agreement between the two companies, which includes Hims offering Novo’s branded weight-loss drugs at the same price as other telehealth platforms and ceasing to advertise compounded GLP-1 drugs. Novo Nordisk CEO Mike Doustdar stated the legal case would be dropped, though the company reserved the right to revisit it if necessary. The agreement also involves Hims selling injectable and oral semaglutide, marketed as Ozempic and Wegovy, through its platform at prices comparable to other telehealth services. Hims will no longer promote compounded versions of GLP-1 drugs, which are unapproved by the FDA. The move comes after Novo accused Hims of selling counterfeit versions of Wegovy at a significantly lower price, which sparked backlash from both the company and the U.S. Food and Drug Administration. Hims’ shares rose over 40% in early trading, while Novo’s stock gained 2.1%. The FDA’s commissioner, Marty Makary, praised the agreement, emphasizing that Hims will provide affordable, FDA-approved medications and limit compounded drugs to rare cases. Makary noted that Hims’ shift away from unapproved compounded products aligns with regulatory efforts to curb illegal compounding practices. The dispute began in February when Novo sued Hims for selling a copycat version of Wegovy at $49, far below the branded price. Hims quickly halted the sale after pressure from Novo and the FDA, which warned of potential legal violations. The FDA has since pledged to take action against compounding pharmacies and referred Hims to the Department of Justice for further review.#hims_hers #novonordisk #marty_makary #semaglutide #zepbound
