Health Care Declines as Hims, Novo Nordisk Slide on Deal Breakup - Health Care Roundup

Health-care companies fell as a major alliance in the obesity drug market crumbled.

Shares of Hims & Hers Health plunged by more than 30% after Danish weight-control drug maker Novo Nordisk abruptly pulled out of a partnership with the telehealth firm on the distribution of Wegovy. Novo Nordisk cited Hims' compounding-pharmacy activities and alleged deceptive marketing.

Novo Nordisk shares fell by more than 5% as investors looked askance at the motivation for the sudden about-face.

Rival Eli Lilly gained despite promising data from a clinical trial of Novo Nordisk's next-generation obesity drug.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

06-23-25 1736ET