Shares in Hims & Hers Health, Inc. (NYSE: HIMS) surged dramatically on Tuesday, April 29, 2025, following the announcement of a significant partnership with Danish pharmaceutical giant Novo Nordisk. This collaboration will allow Hims & Hers to offer Novo Nordisk’s popular weight-loss drug Wegovy through its telehealth platform, marking a pivotal moment for both companies.
The San Francisco-based telehealth company will begin selling Wegovy, a prescription medication that contains the active ingredient semaglutide, later this week. Customers with a prescription will be able to have the drug shipped directly to their homes, with a price point starting at $599 per month. This price includes a required Hims & Hers membership, which is expected to enhance the accessibility of the drug for many users.
In premarket trading on Tuesday, shares of Hims & Hers soared as much as 36%, eventually opening up 28% from Monday’s close. As of the latest figures, HIMS stock was trading at over $36 per share, reflecting a nearly 48% increase year-to-date and an impressive 185% surge over the past year. Novo Nordisk’s stock also saw a positive response, rising by approximately 3% at the open.
Andrew Dudum, founder and CEO of Hims & Hers, expressed enthusiasm about the partnership, stating, “Bringing our teams together and continuing to explore our shared commitment and focus on delivering the future of healthcare has been inspiring.” He emphasized a mutual vision for consumer-centered healthcare, describing this collaboration as a significant step towards achieving that goal.
The partnership comes at a crucial time as the U.S. Food and Drug Administration (FDA) recently declared an end to the semaglutide shortage, which previously allowed pharmacies to create compounded versions of the drug. With the shortage resolved, Hims & Hers is now positioned to offer the brand-name version of Wegovy, which has gained popularity among individuals seeking effective weight-loss solutions.
Dave Moore, executive vice president of U.S. operations at Novo Nordisk, highlighted the importance of the collaboration in light of the changing regulatory landscape. “We felt it was really important to work hard to establish a collaboration with telehealth companies so that there could be access to Wegovy as the compounding is winding down,” Moore explained. He noted that this partnership will help capture customers transitioning off compounded medications.
In addition to Hims & Hers, Novo Nordisk also announced similar partnerships with other telehealth platforms, including Ro and LifeMD, as part of its strategy to expand its customer base. The company is actively navigating the evolving market dynamics as it seeks to maintain its leadership position in the weight-loss drug sector.
Hims & Hers had previously faced challenges when the FDA’s decision to remove semaglutide from its shortage list led to a significant drop in its stock price. In February 2025, the company announced it would stop offering compounded semaglutide due to the resolution of the shortage, resulting in a 22% decline in its stock at that time. The announcement of the new partnership with Novo Nordisk marks a turnaround for the company, signaling renewed investor confidence.
As the weight-loss drug market continues to heat up, analysts are closely watching how Hims & Hers capitalizes on this collaboration with Novo Nordisk. The integration of Hims & Hers’ telehealth services with Novo Nordisk’s innovative medications could potentially improve long-term outcomes for patients struggling with obesity.
Meanwhile, other companies in the healthcare and pharmaceutical sectors are also experiencing fluctuations in their stock prices based on recent earnings reports and market conditions. For instance, Spotify’s stock fell by 5% after reporting first-quarter operating income that fell short of analyst expectations. General Motors saw its stock slip about 2% despite surpassing Wall Street estimates, as the company reassesses its full-year outlook amid economic uncertainty.
Overall, the market is reacting to a mix of positive and negative news, with Hims & Hers standing out as a notable success story following its strategic partnership with Novo Nordisk. The collaboration not only enhances the company’s product offerings but also positions it favorably in the competitive landscape of telehealth and weight-loss solutions.
As consumers increasingly turn to telehealth for their healthcare needs, partnerships like this one between Hims & Hers and Novo Nordisk may redefine how medications are accessed and delivered. With the rise of digital health solutions, the future of healthcare may very well hinge on the ability of companies to innovate and adapt to changing consumer demands.
The partnership is expected to pave the way for further collaborations in the healthcare sector, as companies look to leverage technology and telehealth platforms to reach a broader audience. As Hims & Hers embarks on this new venture, the implications for both the company and the market at large will be closely monitored by investors and analysts alike.
