Novo Nordisk (NVO) is planning to sell its obesity drugs on the telehealth platform run by Hims & Hers Health (HIMS) as part of a partnership between the two firms, Bloomberg reported, citing a person familiar with the matter.
The companies are set to announce the deal as early as Monday, according to the person who sought anonymity, as the information is not yet public.
A spokesperson for the Danish drugmaker told Bloomberg, “We are always in conversation with companies that can help improve patient access to FDA-approved medicines for people living with chronic diseases. These talks happen on an ongoing basis.” HIMS was not available for comments outside regular business hours.
A similar deal between the companies fell apart in June after Hims (HIMS) refused to discontinue the sale of low-cost compounded versions of Novo’s (NVO) obesity therapy semaglutide, even as the GLP-1 was no longer in shortage in the U.S.
Most recently, the telehealth firm was forced to withdraw its plans to sell compounded versions of Novo’s (NVO) newly launched oral obesity therapy, the Wegovy pill, after its market rollout drew regulatory scrutiny.
Novo (NVO) later filed a lawsuit accusing the company of violating its rights to a key U.S. patent related to semaglutide.
Novo (NVO) ADRs added ~2% in the post-market after the report, while Hims (HIMS) climbed 40%. Eli Lilly (LLY), whose oral weight loss therapy, orforglipron, is currently undergoing FDA review, traded flat.