Novo Nordisk Sues Hims & Hers Over $49 GLP-1 Pill, Shares Sink 16.6%
Novo Nordisk filed a patent-infringement suit against Hims & Hers after the telehealth company launched a GLP-1 weight-loss pill with the same active ingredient as Wegovy, priced at $49 versus Wegovy’s $149. Hims & Hers stopped offering the drug, and its shares plunged 16.6% to trade near $17.
1. Patent Lawsuit and Product Withdrawal
Novo Nordisk alleges that Hims & Hers infringed on its Wegovy patent by introducing a weight-loss pill containing the identical GLP-1 active ingredient. The telehealth provider had priced its version at $49 compared with Wegovy’s $149 list price, prompting Hims & Hers to halt distribution after receiving legal and FDA warnings.
2. Stock Performance and Valuation Impact
On the day of the lawsuit announcement, Hims & Hers shares tumbled 16.6%, falling to as low as $16.35 and settling near $18.93, marking a 52-week low and its worst session since June. The stock is now down over 41% year-to-date and is trading below its 50-day moving average as investors reassess its growth outlook.
3. Options Market Activity
Options volume in Hims & Hers spiked to over 413,000 contracts, roughly four times typical daily levels, with 218,000 calls and 195,000 puts exchanged. The most active position was the weekly 2/13 $14-strike put, indicating bearish hedging or speculative interest ahead of further legal developments.