Novo Nordisk and Hims & Hers Health end lawsuit over weight loss medications, enter collaboration
Novo Nordisk and Hims & Hers Health have ended their lawsuit and will collaborate to sell Wegovy and Ozempic through the Hims platform.Summary
Novo Nordisk has dropped its patent lawsuit against Hims & Hers Health, and the two companies have entered into a collaboration. This agreement will allow Hims to sell both oral and injectable versions of Novo Nordisk’s weight loss medications, Wegovy and Ozempic, on its platform later this month. The dispute arose when Hims & Hers announced plans to launch a cheaper, off-brand version of Wegovy, which Novo Nordisk initially opposed, calling it “an unapproved, inauthentic, and untested knockoff.” However, Hims dropped those plans after the FDA threatened to restrict access to necessary ingredients. As part of the deal, Hims will also cease advertising compounded GLP-1 drugs. Novo Nordisk has reserved the right to refile the lawsuit in the future. Following the announcement, shares of Hims & Hers Health Inc. experienced a significant jump of over 36% in trading.
(Source：Cnbctv18)