Him & Hers, WW down on Novo attempt to restrict compounded semaglutide
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- Hims & Hers Health (NYSE:HIMS) and WW International (NASDAQ:WW) are both down significantly in Wednesday trading following Novo Nordisk’s (NVO) attempt to get the U.S. FDA to ban the manufacture of compounded semaglutide.
- The Danish drugmaker has asked the agency to have semaglutide placed on the Demonstrable Difficulties for Compounding List, arguing that compounded versions pose safety risks. Semaglutide is a blockbuster med for Novo and is the active ingredient in its weight loss and type 2 diabetes drugs, Wegovy and Ozempic.
- Earlier this year, Him and Hers and WW International said they would offer compounded version of semaglutide at a fraction of the cost of the brand-name versions.
- This was permissible as Novo has been experiencing a shortage of semaglutide for much of the year. However, that has now ended.
- Novo rival Eli Lilly (LLY) recently sued three compounders for continuing to make and sell compounded tirzepatide, the active ingredient in its weight loss and diabetes meds Zepbound and Mounjaro.
- Hims & Hers is down ~11%, while WW is down ~7%.