HIMS Stock In Spotlight After Hims & Hers Adds Novo’s GLP-1 Treatments To Its Platform

• Wegovy will be initially available in 0.25 mg, 0.5 mg, 1 mg, 1.7 mg, and 2.4 mg injection doses, with a higher 7.2 mg dose to be available later, HIMS said.
• Ozempic injection pens will be available in 0.25 mg, 0.5 mg, 1 mg, and 2 mg doses.
• HIMS will also introduce a weight-loss membership starting at $39 for the first month, then $149 per month thereafter.

Hims & Hers Health Inc (HIMS) grabbed retail attention on Thursday after launching a broad lineup of Novo Nordisk GLP-1 medications on its platform, including the FDA-approved Wegovy pill. The rollout comes just weeks after Novo dropped its patent infringement lawsuit against Hims related to its blockbuster weight-loss drugs.

HIMS stock was down more than 3%, while NVO shares climbed nearly 2% higher at the time of writing.

Wegovy To Be Available In Several Doses

HIMS said that eligible patients will have access to multiple treatment options, including Wegovy in 0.25 mg, 0.5 mg, 1 mg, 1.7 mg, and 2.4 mg injection doses, and 1.5 mg, 4 mg, 9 mg, and 25 mg pill forms. A 7.2 mg injection will be available later, the company said.

Ozempic injection pens will be available in 0.25 mg, 0.5 mg, 1 mg, and 2 mg doses for the management of Type 2 diabetes. It has not been approved by the FDA for weight loss.

HIMS is introducing a new weight-loss membership that provides comprehensive support, including 24/7 access to healthcare providers, personalized nutrition guidance, regular check-ins, and a peer support community. Membership will start at $39 for the first month, followed by $149 per month thereafter.

Legal Battle Over Compounded Drugs

Last month, Novo Nordisk filed a patent infringement lawsuit against Hims & Hers after the telehealth company introduced a low-cost, compounded version of the Wegovy pill for $49 per month, claiming it contained the same active ingredient as the branded drug. Novo argued that the products violated its patents and misled consumers about safety and effectiveness, prompting the FDA to warn about the use of GLP-1 ingredients in unapproved compounded drugs.

However, Novo Nordisk dropped the lawsuit earlier this month and instead formed a partnership with Hims & Hers, allowing the company to offer FDA-approved versions of Wegovy and Ozempic at more affordable self-pay prices. Hims & Hers also announced it would stop marketing compounded GLP-1 drugs and transition existing patients to FDA-approved treatments.

How Did Retail Traders React?

Retail sentiment for both HIMS and NVO remained in the ‘bearish’ territory over the past 24 hours. 

One user said they were going long after the news came out.

Year-to-date, HIMS stock has declined by about 37%, while NVO stock has fallen by about 29%.

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