Novo Nordisk's Wegovy deal pulls Hims & Hers shares down 15%

Shares of telehealth company Hims & Hers fell about 15% after it reported a first‑quarter loss and issued weak earnings guidance. The decline came despite a recently announced partnership with Danish drugmaker Novo Nordisk, under which Hims & Hers will sell Novo Nordisks GLP‑1 weight‑loss medication Wegovy on its platform.

Novo Nordisk’s own first‑quarter earnings call highlighted rapid U.S. uptake of the newly launched Wegovy pill and continued growth of its obesity franchise. The company noted progress on its pipeline and regulatory milestones, although adjusted sales fell short of expectations due to lower realized prices. The collaboration underscores the expanding market for GLP‑1 therapies and the impact such deals can have on related stock performance.