Novo Nordisk will take legal actions against Hims & Hers after it announced it will launch a cheaper version of the weight loss drug Wegovy.
Him & Hers announcement came just weeks after Novo Nordisk launched its highly anticipated reformulation of the blockbuster medications.
The product from Hims & Hers will launch at US$49 for the first month, as part of an introductory offer, followed by $99 per month.
This would be far cheaper than Novo Nordisk’s $149 pill.
In a media release, Novo Nordisk noted that Hims & Hers' actions follow a pattern where the company capitalises on the booming popularity of GLP-1 drugs, like Wegovy.
“The action by Hims & Hers is illegal mass compounding that poses a significant risk to patient safety,” Novo Nordisk said in a statement.
“Novo Nordisk will take legal and regulatory action to protect patients, our intellectual property and the integrity of the US gold-standard drug approval framework.
“This is another example of Hims & Hers' historic behaviour of duping the American public with knock-off GLP-1 products, and the FDA has previously warned them about their deceptive advertising of GLP-1 knock-offs.”
Novo Nordisk released its product in early January, and CEO Mike Doustdar told CNBC on Wednesday that 170,000 people were already taking the medication.
This adds to the mounting pressure Novo Nordisk has been facing over the past year, as stock fell nearly 50% during 2025. This marks its worst year ever.
It also comes dats after Novo Nordisk forecast sales and profits declining between 5% and 13%, primarily due to pricing pressures in the U.S. and loss of exclusivity for semaglutide in markets outside the U.S..
In contrast, its biggest competitor, Eli Lilly, said it anticipates its sales will grow by around 25% this year.
At the time of writing, Novo Nordisk (CPH: NOVO-B) shares were down 7.88% to 280.65 kr (US$31.07).
Its shares are also down 14.70% for 2026 so far.
