Wegovy injection (Steve Christo/Getty Images)

Hims & Hers falls after Novo Nordisk launches discounted Wegovy for uninsured

The reduced price for Wegovy is still roughly double what compounded versions cost.

3/5/25 11:06AM

Hims & Hers shares fell and Novo Nordisk shares rose after the drugmaker announced Wednesday morning that it launched a telehealth platform, NovoCare, designed to give uninsured patients access to Wegovy, its blockbuster weight-loss drug.

Novo Nordisk, the Danish drugmaker that makes popular GLP-1 weight-loss drugs, said NovoCare will allow patients without insurance to access their drugs directly at almost a third of the cost it typically charges insurers. This comes after the Food and Drug Administration declared on February 21 that the shortage of semaglutide, the active ingredient in Wegovy and Ozempic, is over, ending the allowance for copycat pharmacies like Hims & Hers to sell exact copies.

Hims & Hers has said its game plan moving forward is to sell Novo Nordisk’s older, less effective GLP-1 drugs and oral medications.

NovoCare will offer Wegovy for $499 a month for patients without insurance. While that is more affordable than the upward of $1,300 Novo Nordisk charges patients with insurance, it’s still more than double what the compounded versions cost.

That said, Wegovy comes in individual pens that are prefilled with the patient’s dose. Compounding pharmacies typically send a vial and the patient is responsible for administering the dose. That makes Wegovy (and similar GLP-1 drugs) more costly to produce than compounded versions.

Screenshot 2025-03-05 at 9.51.19 AM — Sherwood News

Eli Lilly, which makes competing GLP-1 drugs, announced a similar platform dubbed Lilly Direct that offers its drugs to insured patients at similar price points as NovoCare. (Hims & Hers has never sold copycat versions of Eli Lilly’s drugs, though other compounding pharmacies have.)

Compounding pharmacies have been a pain in the side of Novo Nordisk and Eli Lilly, chipping away at the edges of their market share for GLP-1 drugs. The pharmaceutical giants have launched ad campaigns questioning the safety of compounded drugs.

Luke Kawa

7/13/26

Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa

7/2/26

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Luke Kawa

7/1/26

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

Hims & Hers falls after Novo Nordisk launches discounted Wegovy for uninsured

More Markets

SpaceX gets a wave of bullish ratings from Wall Street analysts

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Latest Stories