HIMS stock surges on legal news
Novo Nordisk dropped its patent lawsuit against HIMS and partnered with them, bringing branded Ozempic and Wegovy to its platform explained. HIMS stock surged 40%+ on the news.
The partnership follows Novo Nordisk's lawsuit against Hims & Hers over the telehealth company's plans to sell a compounded version of Wegovy. Hims & Hers has agreed to halt advertising compounded GLP-1 drugs, now offering FDA-approved medications. The agreement allows Hims & Hers to offer Ozempic and Wegovy, including both injectable and the new oral tablet forms, at prices comparable to other telehealth platforms. Existing Hims & Hers patients using compounded GLP-1 medications will have the option to transition to the branded drugs. Analysts have upgraded HIMS stock, citing the partnership as a major growth catalyst. Short sellers reportedly lost $546 million due to the surge, as Hims & Hers shares experienced their best day ever.
