From Yahoo Finance: 2025-04-29 15:19:00

Shares of Hims & Hers Health (NYSE: HIMS) and LifeMD (NASDAQ: LFMD) surged 24% and 34%, respectively, after Novo Nordisk announced distribution of its weight loss drug Wegovy through telehealth platforms like Hims & Hers and LifeMD.

Novo Nordisk will sell Wegovy directly through Hims & Hers, LifeMD, and Ro, making it easier for patients to access the anti-obesity drug for $599 per month.

Hims & Hers sales skyrocketed after a supply shortage of GLP-1 drugs, allowing them to sell generic versions. The new partnership with Novo Nordisk will boost revenue and offer customers access to Wegovy through telehealth providers.

While Hims & Hers is popular, trading at 53.7 times earnings, LifeMD’s stock is down but trades at just 1.2 times earnings. LifeMD could offer an alternative to the pricey Hims & Hers stock.

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Read more at Yahoo Finance: Why Hims & Hers Health and LifeMD Are Skyrocketing Today