• by Tanya Gazdik , 8 hours ago

The split between pharma giant Novo Nordisk and Hims & Hers puts the teleheatlh company’s future in question.

Novo Nordisk said Hims & Hers has “failed to adhere to the law which prohibits mass sales of compounded drugs” and accused the telehealth company of “deceptive” marketing that is putting patient safety at risk, according to CNBC.

The pharma company in April said it would offer Wegovy through several telehealth companies such as Hims & Hers to expand access to the blockbuster weight loss injection.

“Hims & Hers has leaned on compounding, which accounted for 15% of revenues last year, as part of the growth story it has pitched to investors,” according to Yahoo Finance. “It accused Novo Nordisk of forcing it to ‘steer’ patients to branded Wegovy, while Novo Nordisk accused Hims of steering patients to unapproved compounded or ‘copycat’ drugs.’”

Hims & Hers asks patients if they are interested in "personalized" treatments when they seek GLP-1s on the site, which was the basis for Novo Nordic's pullback, according to Michael Schnell, healthcare M&A director at consultancy West Monroe.

“The Danish drugmaker said Monday that Wegovy will no longer be available on Hims & Hers and that it is ending the collaboration because the San Francisco-based online health company sold ‘illegitimate, knockoff versions of Wegovy that put patient safety at risk,’” according to CBS News. “Novo Nordisk's move to dissolve the partnership came less than two months after the companies said they were entering a ‘long-term collaboration’ to make obesity treatment more accessible.”

Novo Nordisk noted in its press release that it is “deeply concerned” about knockoff drugs “made with foreign, illicit active pharmaceutical ingredients,” according to Fast Company.

Shares of Hims & Hers closed more than 34% lower on Monday after the news broke, while Novo Nordisk’s stock closed more than 5% lower.

In a statement on X, Hims & Hers CEO Andrew Dudum said the company is “disappointed to see Novo Nordisk management misleading the public.”