Novo Nordisk and U.S. telehealth company Hims & Hers have settled their legal dispute by agreeing to sell Novo's weight-loss drugs Wegovy and Ozempic through Hims' platform.
Key Takeaways
Novo Nordisk and Hims & Hers have settled their legal dispute, agreeing to sell Wegovy and Ozempic through Hims' platform. Novo will offer its drugs at self-pay prices starting later this month.
- Novo Nordisk drops lawsuit against Hims & Hers
- Deal allows Hims customers access to approved injectables and pills
- Novo CEO highlights 600,000+ prescriptions for Wegovy pill in two months
- Hims shares up nearly 48% in premarket trading following announcement
- Partnership reflects rising demand for lower-cost weight-loss options
The Danish drugmaker announced the deal on Monday, marking a turnaround from February when it sued Hims over a $49 compounded alternative to its Wegovy pill. The agreement allows Hims customers access to U.S. regulatory-approved injectables and pills at Novo's self-pay prices starting later this month.
Novo CEO Mike Doustdar noted that the Wegovy pill has generated more than 600,000 prescriptions since its launch two months ago, with telehealth partnerships accelerating uptake. Hims' shares were up nearly 48% in premarket trading following the announcement.
The deal comes as Novo faces competition from Eli Lilly and grapples with telehealth firms offering cheaper compounded versions of its obesity treatments. Novo has cut prices for its weight-loss drugs to $149-$299 per month on its websites, making them similarly priced to compounded alternatives.
Last week, U.S. regulators warned 30 telehealth companies about misleading promotions of compounded GLP-1 class drugs like Wegovy and Ozempic. Hims CEO Andrew Dudum stated that the partnership reflects rising demand for a wider range of lower-cost options.
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