MW Hims & Hers' stock rockets after teaming up with its rival Wegovy maker

By Tomi Kilgore

Health and wellness company, which sells alternatives to weight-loss drugs like Wegovy, is now collaborating with the Wegovy maker

Shares of Hims & Hers Health Inc. were headed for their best day ever early Tuesday trading, after the health and wellness company basically teamed up with its competition, the maker of the weight-loss drug Wegovy.

The San Francisco-based company said the plan was to make obesity care "more accessible, more affordable and more connected" for Americans.

The stock $(HIMS)$ soared 34.9% in premarket trading. It's on track to best the current record for a one-day gain of 31%, set on Feb. 27, 2024.

The company announced a long-term collaboration with Denmark-based Novo Nordisk A/S $(NVO)$, which makes Wegovy and diabetes-treatment Ozempic, which are both approved by the Food and Drug Administration. Hims & Hers made its name by selling alternatives to Wegovy.

Starting this week, Hims & Hers members may be prescribed Wegovy, starting at $599 per month through NovoCare Pharmacy.

Novo Nordisk's U.S.-listed shares hiked up 3.7%.

In early March, Novo Nordisk had said it would sell all dose strengths of Wegovy for $499 a month through NovoCare Pharmacy. That came after Eli Lilly & Co. $(LLY)$ lowered the price for its weight-loss drug Zepbound to $499 a month for a 5-milligram dose and to $599 a month for a 7.5-milligram dose.

Read: There's a price war over weight-loss drugs as Wegovy cuts costs of monthly subscribers.

Hims & Hers said it was also developing a road map with Novo Nordisk as a way to increase access to care.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

April 29, 2025 09:13 ET (13:13 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.