Reported about 11 hours ago
Hims & Hers' stock fell nearly 35% after Novo Nordisk announced it would no longer sell its weight-loss drug Wegovy through Hims' telehealth platform, citing legal violations related to the sale of compounded drugs. Although the companies had recently collaborated on offering Wegovy directly to patients, Novo accused Hims of not adhering to legal guidelines, leading to an intense backlash from Hims CEO Andrew Dudum against what he termed anticompetitive pressures from Novo. Additionally, Hims faced broader challenges with slowing subscription growth and impending regulatory changes.
Source: YAHOO