Novo Nordisk (NVO) Terminates Hims & Hers Partnership Over Wegovy Sales Issues

Novo Nordisk A/S (NYSE:NVO) is one of the 12 stocks that will make you rich in 10 years. On June 23, the company discontinued its partnership with Hims & Hers concerning selling its weight-loss drug, Wegovy. This decision was made less than two months after the companies had initially announced their collaboration.

A healthcare professional holding a device with innovative technology developed by the medical technology company.

According to Novo Nordisk, Hims & Hers failed to adhere to the law prohibiting mass sales of compounded drugs under the “false guise of ‘personalization’.” The company accused its partner of disseminating “deceptive marketing” that risks patient safety and selling “illegitimate, knockoff versions” of Wegovy. Novo Nordisk states that its investigation showed the active pharmaceutical ingredients (APIs) in these knockoff drugs, particularly “semaglutide” from telehealth entities and compounding pharmacies, are manufactured by foreign suppliers in China and were often not inspected by the FDA.

In response, Andrew Dudum, CEO of Hims & Hers, stated on X that the company is “disappointed to see Novo Nordisk management misleading the public.” Dudum alleged that Novo Nordisk’s commercial team “increasingly pressured us to control clinical standards and steer patients to Wegovy regardless of whether it was clinically best for patients.” He asserted that Hims & Hers “refuse[s] to be strong-armed by any pharmaceutical company’s anticompetitive demands that infringe on the independent decision-making of providers and limit patient choice.”

Novo Nordisk A/S (NYSE: NVO) is a Danish healthcare company operating globally. It develops, manufactures, and markets pharmaceutical products for the treatment of chronic diseases, primarily diabetes and obesity. Its well-known products include Ozempic, Wegovy, Rybelsus, and Norditropin.

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