NEW YORK, March 10, 2026, 10:10 EDT
Hims & Hers Health climbed for a second day on Tuesday, with shares up roughly 11% at $24.70 in early trading, after Novo Nordisk agreed to make Wegovy and Ozempic available via the telehealth company’s platform. That deal also put an end to a recent patent dispute between the two. The stock had already surged over 40% on Monday. 1
This is significant for Hims, removing a legal and regulatory cloud from its weight-loss operations. The dispute involved compounded GLP-1 drugs—tailor-made alternatives to well-known diabetes and obesity meds—right as the company flagged a $65 million hit in the first quarter and set guidance below what analysts were looking for. 2
Hims has struck a deal to roll out Ozempic, Novo’s diabetes medication, and Wegovy—including the pill version of the obesity drug—starting later this month, sticking to Novo’s self-pay pricing. The company also plans to pull back on marketing compounded GLP-1s, reserving them for situations where providers judge them medically needed. 3
Andrew Dudum, chief executive, pointed to “tremendous growth opportunities” for Hims in branded GLP-1 treatments. Novo CEO Mike Doustdar described the agreement as “a meaningful win for patients,” saying the Danish company’s genuine products are now priced nearly on par with compounded versions. 3
Novo is pulling its patent suit for now, but says it might bring it back. The pair briefly teamed up for a branded Wegovy deal in 2025, but that partnership unraveled after compounded-drug marketing worries surfaced. 4
The deal drops into a market that’s only getting tougher. Novo has slashed U.S. self-pay prices for its weight-loss drugs on its own sites to between $149 and $299 per month, trying to keep pace with Eli Lilly—the new obesity drug leader. Lilly just launched an employer-focused platform last week to boost Zepbound access. 4
Analysts gave a nod to the legal reset—though some were less convinced by the numbers. BTIG’s David Larsen pointed out that the deal cuts the chance of FDA or Justice Department pushback for Hims. “One major issue has been resolved,” said BMO’s Evan David Seigerman. Truist’s Jailendra Singh noted both parties remain “bound by mutual necessity.” 1
But the numbers behind the move aren’t as straightforward as the stock’s jump. The actual financial gain for Hims is still up in the air; analysts point out that branded products could bump up revenue but might squeeze margins compared to the company’s compounded versions. 1
That uncertainty is key—just last month, Hims put out a first-quarter revenue outlook of $600 million to $625 million, coming in under what analysts were looking for. The company also flagged a $65 million hit tied to changes in shipping personalized weight-loss products. The stock was down 52% for the year ahead of Monday’s rally. 5
Hims on Monday announced plans to align its U.S. weight-loss segment more closely with its international approach, putting a sharper focus on FDA-approved drugs. CEO Andrew Dudum noted that the majority of GLP-1 users were already opting for branded medications. 3
