Hims & Hers Shares Soar 42% as Novo Nordisk Weighs Obesity Drug Deal
Novo Nordisk is reportedly in talks to let Hims & Hers distribute its semaglutide-based obesity drugs through HIMS’s telehealth platform, potentially formalizing the deal as soon as Monday. HIMS shares jumped 42% to $22 while Novo Nordisk rose 0.3%, reflecting a prior partnership collapse and ongoing semaglutide patent litigation.
1. Proposed Telehealth Distribution Deal
Novo Nordisk is in advanced discussions to allow Hims & Hers to distribute its semaglutide-based obesity drugs through the telehealth platform, with the agreement potentially formalized as early as this week. The deal would expand direct-to-consumer access for Wegovy and other GLP-1 treatments.
2. Stock Market Reaction
Hims & Hers shares surged 42% to $22 on the report, while Novo Nordisk stock inched up 0.3%. The market response reflects investor optimism about renewed collaboration in the high-growth obesity-treatment segment.
3. Legal Background
The proposed agreement follows a June breakdown in partnership after HIMS continued selling lower-cost compounded semaglutide. Novo Nordisk has also filed a U.S. patent infringement lawsuit over its semaglutide formulation, adding uncertainty to future collaboration.