Hims Stops Cheap Wegovy Pill After Lawsuit
Novo Nordisk sued Hims & Hers over cheaper versions of Wegovy. Hims & Hers pulled its plans to launch a cheaper Wegovy pill.
The company faced legal threats from Novo Nordisk. Hims & Hers stock fell 14% on Monday. Novo Nordisk stock rose 8% after the news.
Klear Note — Wegovy is a weight-loss drug made by Novo Nordisk. It costs hundreds of dollars per month. Hims wanted to sell a cheaper version.
Key Terms 3
- Wegovy A medicine used to help people lose weight.
- Novo Nordisk A large medicine company that makes Wegovy.
- Hims & Hers A company that sells medicines online to patients.