Hims & Hers Stock Skyrockets 37% as Novo Nordisk Ends Weight Loss Drug Lawsuit

Novo Nordisk dropped its patent lawsuit against telehealth company Hims & Hers and struck a partnership deal instead. The lawsuit stemmed from Hims selling a copycat Wegovy pill for $49, undercutting Novo's branded version by $100. Under the settlement agreement, Hims will sell Novo's branded weight loss medications including Ozempic and Wegovy, while agreeing to stop advertising compounded GLP-1 drugs and reserve compounding only for medically necessary cases.