Novo Nordisk and Hims & Hers enter into a partnership for the distribution of Wegovy 💉

Novo Nordisk (NOVOB.DK) announced a partnership with Hims & Hers (HIMS.US), a telemedicine platform that offers, among other services, the sale of medications. The partnership will allow Hims & Hers to sell Wegovy, Novo Nordisk’s weight-loss drug.

This announcement is particularly significant because Hims & Hers had previously sold a cheaper compounded version of Wegovy from Novo Nordisk and Zepbound from Eli Lilly, during the period when these medications were listed as in shortage by the FDA. Once the manufacturers resolved their supply issues, selling compounded versions became illegal, which significantly threatened Hims & Hers' sales performance. As a result, the company’s stock declined by over 60% from its February highs. The new partnership with Novo Nordisk provides an opportunity to maintain strong customer demand for anti-obesity treatments, sending Hims & Hers shares up approximately 30% in premarket trading.

Hims & Hers shares erase all of April's losses in premarket trading. Source: xStation

For Novo Nordisk, the collaboration opens up new distribution channels for its obesity drugs in a key market segment—an area that serves as a primary source of revenue for the company. Following the news, Novo Nordisk shares rose around 3%.

Novo Nordisk stock has remained in a strong downward trend since mid-2024, with the pace accelerating since early 2025. The company has lost about 60% of its value from the July highs. Source: xStation