Novo and Hims Resolve Dispute, Will Sell Obesity Drugs Together, Bloomberg News Reports

Reuters
Mar 07

Wegovy maker Novo-Nordisk A/S plans to sell its ​weight-loss drugs on Hims & Hers Health Inc. ‌platform, bringing an end to a dispute between the two companies that escalated into a legal battle ​last month, Bloomberg News reported on Friday.

Hims ​shares surged 40% in after-hours trading after ⁠the report.

The report comes nearly a month ​after Novo sued Hims over patent infringement following ​the U.S. telehealth firm's launch, and then cancellation, of a $49 copy of Novo's obesity pill.

The U.S. Food and ​Drug Administration had also threatened action against Hims.

Novo ​and Hims plan to announce a new partnership as soon ‌as ⁠Monday, the report said, citing a person familiar with the matter.

Last year, Novo ended a short-lived agreement to sell its Wegovy weight-loss drug ​through Hims ​over the ⁠company's marketing tactics and continued sales of Wegovy copies.

A Novo spokesperson said ​in an e-mailed statement the company ​is "always ⁠in conversation with companies that can help improve patient access to FDA-approved medicines".

Hims did not ⁠immediately ​respond to a request for ​comment.

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