Novo Nordisk Ends Partnership With Hims & Hers Over Concerns About Wegovy Knockoffs; HIMS Stock Plummets
Jun 23, 2025
Novo Nordisk has ended its partnership with Hims & Hers Health, Inc. less than two months after it began. The decision comes after Novo Nordisk raised concerns about Hims & Hers selling and promoting compounded, or 'knockoff', versions of Wegovy, a popular FDA-approved weight-loss drug originally developed by Novo Nordisk.
Novo Nordisk cited issues including illegal mass compounding and deceptive marketing practices by Hims & Hers, which they say could put patient safety at risk. As a result, Hims & Hers will no longer have access to supply Wegovy through NovoCare Pharmacy or its telehealth platform.
Following the announcement, shares of Hims & Hers fell sharply, dropping around 30% in a single day. Investor law firms have since launched investigations into Hims & Hers for possible violations of securities laws.
Novo Nordisk stated that it will continue to work with other telehealth providers who meet their standards for patient safety and compliance, to ensure proper access to the authentic, FDA-approved Wegovy.
Why did Novo Nordisk end its partnership with Hims & Hers?
Novo Nordisk ended the partnership because Hims & Hers was selling and promoting non-approved, compounded versions of Wegovy, which raised concerns about safety and proper marketing.
What is compounded medication, and why is it an issue?
Compounded medications are custom-made versions of drugs, often prepared when approved versions are unavailable. Novo Nordisk claims these compounded Wegovy versions may not be safe or legal.
How did this affect Hims & Hers' stock price?
Hims & Hers' stock price dropped about 30% in a single day after the announcement.
Is Wegovy still available to patients?
Yes, Wegovy will continue to be available through approved providers and telehealth companies that meet Novo Nordisk's safety and compliance standards.
Sources
Novo Nordisk ends deal with Hims & Hers over sales of Wegovy copycats; HIMS drop...
CNBC
CNBC
Novo Nordisk said it is ending its collaboration with Hims & Hers due to concerns about the telehealth company's sales and promotion of cheaper knock-offs of the weight loss drug Wegovy. Novo Nordisk in April said it would offer Wegovy through several telehealth companies, such as Hims & Hers, to e...
Novo Nordisk terminates collaboration with Hims & Hers Health, Inc. due to conce...
Collaboration of over one month has ended based on Hims & Hers deceptive promotion and selling of illegitimate, knockoff versions of Wegovy ® that put patient safety at risk Novo Nordisk won't stop taking action to protect Americans from the dangers of illicit foreign active pharmaceutical ingredien...
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Reuters
Reuters
Novo Nordisk said on Monday it would halt its collaboration with Hims & Hers Health over the sale of weight loss drugs.
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Barrons
Barrons
Novo Nordisk accuses the telehealth company of breaking a law related to drug compounding.
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Hims & Hers Health Inc.'s stock fell sharply on Monday after pharmaceutical giant Novo Nordisk, maker of the weight-loss drug Wegovy, said it was ending a collaboration with the telehealth-consultation company less than two months after it started.
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Invezz
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Novo Nordisk A/S has abruptly terminated its partnership with Hims & Hers Health Inc., just weeks after it was announced, over concerns related to the telehealth company's sale and promotion of compounded versions of its blockbuster weight-loss drug Wegovy.
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Schaeffers Research
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Proactive Investors
Proactive Investors
Shares of Hims & Hers Health (NYSE:HIMS) fell around 30% on Monday after Novo Nordisk (NYSE:NVO) terminated its collaboration with the telehealth company, citing violations related to compounding and marketing of the weight-loss drug Wegovy. Novo said it ended Hims & Hers' access to the FDA-approved...
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CNBC Television
CNBC Television
CNBC's Angelica Peebles joins 'Squawk on the Street' with the latest details on the pharmaceutical space.
Novo Nordisk Ends Partnership with Hims & Hers
WSJ
WSJ
The Danish maker of obesity drugs abruptly ended a Wegovy distribution deal with the telehealth firm, citing allegations about Hims' compounding and deceptive marketing practices.
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Business Wire
Business Wire
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Hims & Hers Health, Inc. (“Hims” or the “Company”) (NYSE: HIMS) on behalf of investors concerning the Company's possible violations of federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON HIMS &...
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Business Wire
Business Wire
RADNOR, Pa.--(BUSINESS WIRE)-- #classaction--The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Hims & Hers Health, Inc. (NYSE: HIMS) (“Hims & Hers”). On June 23, 2025, during pre-...
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Zacks Investment Research
Zacks Investment Research
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Forbes
Hims & Hers Health (NASDAQ: HIMS) experienced a devastating 35% stock crash on June 23, 2025, after Novo Nordisk abruptly terminated their brief partnership. The dramatic sell-off reflects not just the immediate loss of a key business relationship, but fundamental questions about the company's long-...
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The Motley Fool
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On April 29, Novo Nordisk (NVO -5.41%) and Hims & Hers Health (HIMS -34.62%) announced they were collaborating to allow Hims & Hers to sell the weight-loss drug Wegovy. Hims & Hers stock soared on the news.
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Fast Company
Fast Company
This morning, the Danish pharmaceutical giant Novo Nordisk announced the abrupt end of its brief partnership with telehealth company Hims & Hers Health (NYSE: HIMS), citing concerns over Hims & Hers' “knockoff” weight-loss drugs. Now, Hims & Hers' shares are plummeting as investors react to the news...
Hims & Hers: The Novo Nordisk Breakup Changes Nothing
Seeking Alpha
Seeking Alpha
The Novo Nordisk partnership ending does not alter my long-term bullish thesis on HIMS; the company is much more than just a GLP-1 play. HIMS' core value lies in its broad treatment offerings and disruptive model, not in partnerships with big pharma like NVO. Legal risks remain, but I believe HIMS i...
Can Novo Nordisk Regain Ground After Cutting Ties With Hims & Hers?
Zacks Investment Research
Zacks Investment Research
NVO ends its deal with HIMS over safety concerns tied to compounded Wegovy, hitting patient access and market share plans.
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Zacks Investment Research
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Benzinga
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CNBC Television
Herb Greenberg, 'Herb on the Street' author, joins 'Power Lunch' to discuss Greenberg's thoughts on the terminated partnership between Novo Nordisk and Hims & Hers.
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Seeking Alpha
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