Hims to stop offering copy of Wegovy pill following FDA scrutiny
Hims & Hers said it has decided to stop offering its newly launched copycat version of Novo Nordisk’s Wegovy pill, after the telehealth company drew criticism from the Food and Drug Administration.
“Since launching the compounded semaglutide pill on our platform, we’ve had constructive conversations with stakeholders across the industry. As a result, we have decided to stop offering access to this treatment,” Hims wrote on X.
Shares of Hims are down double digits in premarket trading on Monday, while Novo Nordisk ADRs are up more than 6% as of 5:20 a.m. ET.
On Friday afternoon, the FDA said it would take “decisive steps” to restrict GLP-1 compounding. Department of Health and Human Services General Counsel Mike Stuart said on social media Friday he had referred Hims to the Department of Justice “for investigation for potential violations by Hims of the Federal Food, Drug, and Cosmetic Act and applicable Title 18 provisions.”
Hims launched the product last week, a seeming copy of a recently released and patented drug, which immediately drew fire from Novo Nordisk and regulators.
Shares of Hims are down double digits in premarket trading on Monday, while Novo Nordisk ADRs are up more than 6% as of 5:20 a.m. ET.
On Friday afternoon, the FDA said it would take “decisive steps” to restrict GLP-1 compounding. Department of Health and Human Services General Counsel Mike Stuart said on social media Friday he had referred Hims to the Department of Justice “for investigation for potential violations by Hims of the Federal Food, Drug, and Cosmetic Act and applicable Title 18 provisions.”
Hims launched the product last week, a seeming copy of a recently released and patented drug, which immediately drew fire from Novo Nordisk and regulators.
