Hims & Hers stock surges 20% after teaming up with Novo Nordisk for weight loss drug

From Yahoo Finance: 2025-04-29 10:18:00

Hims & Hers stock surged over 20% after partnering with Novo Nordisk to offer Wegovy, a weight loss drug, through telehealth platforms. Novo’s stock also rose 3%. Eli Lilly has a similar deal with Ro for Zepbound. Hims offers Wegovy for $599 per month, aiding both companies in a competitive market.

The partnership between Hims and Novo Nordisk for Wegovy access marks a strategic move. Novo has faced pressure from Lilly in the obesity market, while Hims has struggled with compounded products access. Mizuho’s analyst noted potential benefits for both companies in this collaboration, providing a new avenue for growth.

Hims stock has declined 45% following a reported earnings drop, attributed to access issues with compounded GLP-1s. The FDA’s declaration of the end of a shortage has intensified the competition between compounding pharmacies and GLP-1 drugmakers. Morgan Stanley analysts see potential in Hims’ stock rebound with ongoing momentum in weight loss revenue.

Anjalee Khemlani, senior health reporter at Yahoo Finance, covers pharma, insurance, and digital health, including GLP-1s. Follow her for industry insights. For a detailed analysis of health industry news impacting stock prices, click here.

Read more: Hims & Hers stock jumps on Novo Nordisk GLP-1 partnership