Novo Nordisk Terminates Wegovy Sales on Hims & Hers
After accusing His & Hers Health of selling counterfeit versions of the FDA-approved weight-loss drug Wegovy, Novo Nordisk unexpectedly terminated their partnership.
On June 23, 2025, the news was made, signaling the abrupt end of a collaboration that had just been formed a few weeks before. The announcement has already caused a stir in the financial market, with HIMS shares falling more than 31% to settle at $44.10.
Patient Safety at Risk, Says Novo Nordisk
Novo Nordisk, the Danish pharmaceutical giant, said the decision came after uncovering evidence that Hims & Hers was distributing “illegitimate, knock off versions” of Wegoby, putting patient safety at risk.
“After over one month into the collaboration, Hims & Hers Health, Inc. has failed to adhere to the law,” a Novo Nordisk spokesperson told CBS MoneyWatch. “They are disseminating deceptive marketing that puts patient safety at risk.”
HIMS Stock Nosedives on News
His & Hers immediately lost over $20 per share in market value, marking one of its sharpest single-day declines in 2025.
Hims & Hers previously estimated more than $700 million in 2025 revenues from weight-loss services, a projection now severely threatened by the withdrawal of Wegovy.
FDA Warnings and Compounded Drugs
Novo Nordisk pointed out that the FDA had already issued warnings. These targeted compounding pharmacies making copycat versions of semaglutide, the active ingredient in Wegovy.
These knock-off drugs, often sourced from unregulated suppliers in China, lack proper FDA inspection, leading to safety concerns.
Novo Nordisk launched telehealth collaborations to offer genuine, regulated Wegovy. One partnership included Hims & Hers, aiming to reduce reliance on compounded versions.
Reliable Partners Continue
Despite the controversy surrounding Hims & Hers, Novo Nordisk said it will continue offering Wegovy. The drug will be available through other reliable telemedicine platforms, including:
- The LifeMD
- Ro (Roman)
Dave Moore, EVP of Novo Nordisk, stated, “We will keep collaborating with partners who share our dedication to patient safety.”
GLP-1 Drug Market Booming
The U.S. demand for GLP-1 drugs like Wegovy, Ozempic, and Mounjaro is skyrocketing. As of mid-2025, 1 in 8 U.S. adults report using a GLP-1 medication. The treatments are used for weight loss or diabetes, according to KFF research.
Source: CBS News
