In This Article:
Shelby Knowles / Bloomberg / Getty Images
Key Takeaways
-
Hims & Hers Health shares surged Tuesday as the company announced a partnership with Danish drugmaker Novo Nordisk.
-
Hims & Hers users will have access to Novo Nordisk's Wegovy starting this week, the companies said.
-
The telehealth company had benefitted from selling compounded versions of popular weight-loss drugs when they were in a supply shortage, but the The Food and Drug Administration said in February that Novo Nordisk's Ozempic and Wegovy are no longer in a shortage.
Shares of online health platform Hims & Hers Health (HIMS) soared over 27% Tuesday afternoon after the company announced a partnership with Novo Nordisk (NVO) to bring weight-loss drug Wegovy to its customers.
The companies said in a Tuesday statement that users will be able to buy a "bundled offering of all dose strengths of Wegovy® and a Hims & Hers membership" starting this week for $599 or more.
Hims & Hers had benefitted from selling compounded versions of popular weight-loss drugs when they were in a supply shortage, but the The Food and Drug Administration announced in February that Novo Nordisk's Ozempic and Wegovy are no longer in a shortage. The FDA said it would give drug compounders until mid May before taking enforcement actions to prevent them from selling compounded versions of the medications.
Move Comes After Hims & Hers Said It Would Add Eli Lilly Weight-Loss Drugs
Earlier this month, Hims & Hers said it would add branded tirzepatide, the active ingredient for Mounjaro and Zepbound, to its platform. Eli Lilly said on the same day that it "has no affiliation" with Hims & Hers, and that Zepbound "can be prescribed by any licensed healthcare professional."
With Tuesday's gains, Hims & Hers shares have nearly tripled in value over the past 12 months. The telehealth provider is set to report first-quarter results next Monday.
Read the original article on Investopedia