By George Glover
Hims & Hers Health stock was rallying on Monday after a report said that the telehealth platform had struck a deal to end its battle with Novo Nordisk, the Danish drugmaker that sells Ozempic and Wegovy.
Hims shares soared 53.6% to $24.19 ahead of the opening bell. Novo's American depositary receipts climbed 0.7%. Futures tracking the S&P 500 slumped 0.8% after the Iran war triggered a surge in oil prices.
Novo has agreed to sell its weight-loss drugs on Hims' platform and the partnership could be announced as soon as Monday, Bloomberg reported, citing a person familiar with the matter.
Novo and Hims didn't immediately respond to requests for comment from Barron's.
Hims in February canceled the launch of a copycat version of Novo's weight-loss medication Wegovy.
Novo then said it had filed a lawsuit against Hims for selling what Novo's general counsel John Kuckelman called "knockoff versions of Wegovy and Ozempic that evade the Food and Drug Administration's gold standard review process."
The report of the truce comes at a time when both stocks have been struggling.
Novo's ADRs are down 24% in 2026, slumping after the drugmaker issued a dismal outlook for the current year, saying it expects sales to fall.
Hims has tumbled 52% as investors fret about Novo's lawsuit and heightened regulatory scrutiny.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 09, 2026 06:33 ET (10:33 GMT)
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