Hims & Hers Health Inc. drops 0.05% after Novo Nordisk ends collaboration
Market Watcher2025-06-24
June 23rd, 8:00 PM, after the US stock market opened, several stocks experienced significant movements.
Hims & Hers Health Inc. saw a slight decline of 0.05% in the night session, following the termination of its collaboration with Novo Nordisk.
Novo Nordisk, the maker of the weight-loss drug Wegovy, terminated its collaboration with Hims & Hers due to deceptive promotion and selling of knockoff versions of Wegovy. This decision led to a significant drop in Hims & Hers' stock price. The disagreement arose from allegations of patient safety risks and anticompetitive demands. Novo Nordisk's move followed the FDA's decision to end a drug-shortage declaration for weight-loss drugs, impacting the distribution of generics. The fallout between the two companies may have broader implications for the industry.
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