Hims & Hers Faces Regulatory Scrutiny Amid Allegations of Selling Knockoff Wegovy, Novo Nordisk Partnership Terminated

Reuters

2025/07/31

Hims & Hers Faces Regulatory Scrutiny Amid Allegations of Selling Knockoff Wegovy, <a href="https://laohu8.com/S/NVO">Novo Nordisk</a> Partnership Terminated

Hims & Hers Health Inc., a telehealth company based in San Francisco, is facing significant regulatory challenges. On June 23, 2025, Novo Nordisk terminated its collaboration with the company due to allegations that Hims & Hers was promoting and selling illegitimate, knockoff versions of the weight-loss drug Wegovy. These versions, reportedly manufactured by unapproved foreign suppliers in China, posed risks to patient safety by potentially containing dangerous and illicit ingredients. The company also allegedly failed to comply with laws prohibiting mass sales of compounded drugs under the guise of personalization. Following this announcement, Hims & Hers' stock price plummeted by 34.6%, closing at $41.98 per share. Investors affected by these developments are encouraged to participate in pending securities class actions, with a lead plaintiff motion deadline set for August 25, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Hims & Hers Health Inc. published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 1054582) on July 31, 2025, and is solely responsible for the information contained therein.

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On June 23, 2025, Novo Nordisk terminated its collaboration with the company due to allegations that Hims & Hers was promoting and selling illegitimate, knockoff versions of the weight-loss drug Wegovy. These versions, reportedly manufactured by unapproved foreign suppliers in China, posed risks to patient safety by potentially containing dangerous and illicit ingredients. The company also allegedly failed to comply with laws prohibiting mass sales of compounded drugs under the guise of personalization. Following this announcement, Hims & Hers' stock price plummeted by 34.6%, closing at $41.98 per share. 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