On June 23, 2025, during pre-market hours, the pharmaceutical company Novo Nordisk announced it would no longer provide Hims & Hers with direct access to its FDA-approved weight loss drug Wegovy through NovoCare Pharmacy due to concerns about illegal mass compounding and deceptive marketing by Hims & Hers. Specifically, Novo Nordisk explained that Hims & Hers allegedly failed to comply with laws prohibiting mass sales of compounded drugs and disseminated “deceptive marketing that put patient safety at risk."
When the market opened, Hims & Hers stock price opened at $48.16, over 20% less than its closing price of $64.22 on June 20, 2025, and the stock price continued to tumble during intraday trading.
If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.