By Rob Curran
Shares of online pharmacy Hims & Hers surged after it struck a deal with Danish obesity drug maker Novo Nordisk to sell its Wegovy drug in the U.S.
In a joint venture with Novo Nordisk, Hims & Hers will dispense all doses of Wegovy to Americans who buy eligible subscriptions, with plans starting at $599 a month. The offering will launch this week, the company said.
Shares of Hims & Hers soared 30% to $36.94 premarket, but remain below February peaks. Novo Nordisk rose 4% to $65.10.
Glucagon-like Peptide receptor agonists, also known as GLP-1 drugs, are a blockbuster category of drugs that some industry analysts say will eventually be one of the top-selling kinds of pharmaceuticals ever. The GLP-1 products, including Novo Nordisk's Wegovy and Ozempic, have shown efficacy in the treatment of diabetes and in weight reduction, among other applications. Hims & Hers had previously sold compound-pharmacy versions of the drugs under a special arrangement due to shortages.
Medical professionals have raised concerns about the ease of drug access with online pharmacies, and about potential risks associated with use of GLP-1s.
Shares of Eli Lilly, which makes a Wegovy rival called Mounjaro, ticked down.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 29, 2025 08:39 ET (12:39 GMT)
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