Hims & Hers Health Inc. (HIMS) shares soared more than 52% in Monday’s pre-market trade after Novo Nordisk AS (NVO) dropped its patent infringement lawsuit against the company.
Novo Nordisk and Hims & Hers have also teamed up to offer access to Ozempic and Wegovy at the same affordable self-pay prices as other telehealth platforms.
Hims & Hers also stated that it will no longer advertise compounded GLP-1 offerings on its platform or in its marketing. Existing patients will have the opportunity to transition to FDA-approved medicines when their providers determine it clinically appropriate, the company said.
Novo shares were up more than 1% in Monday’s pre-market trade, while Hims & Hers shares were up around 48% at the time of writing. Retail sentiment around HIMS stock trended in the ‘extremely bullish’ territory on the platform.
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