Summary
Hims & Hers, a telehealth company, plans to launch a cheaper, off-brand pill similar to the weight-loss drug Wegovy. The original drugmaker, Novo Nordisk, intends to sue Hims for selling what it calls an unapproved and untested copy. This move comes as Hims tries to take advantage of the growing demand for GLP-1 weight-loss drugs.
Key Facts
- Hims & Hers announced a cheaper version of the Wegovy weight-loss pill.
- Novo Nordisk, the creator of Wegovy, plans to sue Hims for selling an unauthorized version.
- Wegovy was originally available as an injection and recently came out in pill form.
- Hims has offered compounded versions of weight-loss drugs which are customized and not under strict federal control.
- Hims will sell their version starting at $49 for the first month, then $99 monthly, compared to Novo's $149 monthly price.
- The FDA warned Hims previously about "false and misleading" marketing language.
- Compounded drugs are allowed when in shortage or personalized for a patient.
- Shares of Novo Nordisk dropped by over 8% following Hims' announcement.
