Summary
Novo Nordisk has dropped its lawsuit against Hims & Hers after the companies agreed that Hims will sell Novo Nordisk's weight-loss medications through its platform. This decision follows Hims' earlier plan to offer a cheaper alternative to Novo Nordisk's drug, which they later abandoned. The companies will now collaborate, with Hims offering both oral and injectable versions of the medications.
Key Facts
- Novo Nordisk ended its lawsuit against Hims & Hers over weight-loss medications.
- The agreement allows Hims to sell Novo Nordisk's branded weight-loss drugs.
- Novo Nordisk's drug Wegovy was at the center of the dispute.
- Hims had planned to sell a cheaper, off-brand version of Wegovy but canceled this plan.
- The FDA had warned about restricting access to ingredients for these off-brand drugs.
- Hims will no longer advertise compounded GLP-1 drugs on their platform.
- Hims' stock price increased by more than 36% following the announcement.
- Novo Nordisk reserved the right to refile the lawsuit if needed.
