Hims & Hers Health (NYSE:HIMS) shares soared 40% in premarket trading Tuesday after Novo Nordisk (NYSE:NVO) said it would begin offering its blockbuster weight-loss drug Wegovy through telehealth providers, including HIMS, Ro, and LifeMD.
Novo Nordisk stock (NYSE:NVO) climbed 3% following the announcement, which comes as the Danish drugmaker moves to solidify access to Wegovy amid rising demand and tighter restrictions on compounded alternatives.
The new collaboration allows patients to receive Wegovy via direct-to-consumer channels like NovoCare, Novo Nordisk's online pharmacy, which integrates with the telehealth platforms. The drug will be offered at a discounted rate of $499 per month through NovoCare for patients without insurance.
Hims & Hers will begin providing all Wegovy dose sizes this week, with added services such as 24/7 clinical care and nutritional support. The total monthly cost will start at $599.
The shift comes as compounded semaglutide, cheaper, unapproved versions of Wegovy, face regulatory deadlines. Larger compounding pharmacies must stop bulk production by May 22, while smaller pharmacies saw a deadline pass on April 22.
Novo Nordisk said the initiative is aimed at simplifying access and helping patients transition to approved, branded treatments.
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