Novo Nordisk has ended its partnership with Hims & Hers Health due to allegations that the telehealth company marketed and sold counterfeit versions of its weight-loss drug, Wegovy. This decision comes only two months after the initial collaboration aimed to improve access to obesity treatments. Following the announcement, Hims & Hers experienced a significant drop in stock prices, highlighting the impact of the controversy. Novo Nordisk emphasized the importance of patient safety and adherence to regulations regarding compounded drugs in its statement against Hims & Hers’ practices.
Novo Nordisk's decision to end its partnership with Hims & Hers is driven by concerns over the safety of fake Wegovy drugs sold by the telehealth firm.
The collaboration intended to increase accessibility to Wegovy, but allegations of selling illegitimate versions quickly led to diminished trust and a significant loss in Hims & Hers' stock value.
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