Key Takeaways
- Shares of Hims & Hers (HIMS) skyrocketed more than 44% during premarket hours Monday following Bloomberg’s report that Novo Nordisk will distribute weight-loss medications via its platform
- An official partnership announcement between the companies may come as soon as Monday
- This represents a dramatic shift after Novo initiated legal action against Hims in February regarding a generic alternative to its oral Wegovy medication
- Leerink’s Michael Cherny described the news as “both a surprise and an unabashed positive for HIMS’ stock” while maintaining his Market Perform rating
- Morgan Stanley analyst Craig Hettenbach suggested the partnership might reduce legal and regulatory concerns that had pressured the stock, which faces significant short interest
Shares of Hims & Hers Health (HIMS) exploded more than 44% during Monday’s premarket session following a Bloomberg report indicating Novo Nordisk intends to distribute its weight-loss medications through the Hims telehealth platform.
Novo Nordisk $NVO and Hims & Hers $HIMS end their legal feud and will sell obesity drugs together, per Bloomberg.
Partnership expected to be announced as soon as Monday.
HIMS stock is up 41% After hours….wow pic.twitter.com/fxvCnTSuei— Robert Fekete (@rokajoska) March 7, 2026
According to the report, a formal announcement may be made as soon as Monday. The revelation triggered a massive rally in HIMS shares, while Novo’s Copenhagen-traded stock advanced approximately 1%.
Hims & Hers Health, Inc., HIMS
The development represents a dramatic reversal for a stock that had already tumbled roughly 51% year-to-date prior to Monday’s surge.
Under the arrangement, Novo’s obesity medications — including products connected to its Ozempic and Wegovy franchises — would become available directly through the Hims platform. This marks a significant pivot considering the contentious relationship between these companies in recent times.
Novo filed a lawsuit against Hims this past February after the telehealth provider introduced a generic alternative to Novo’s oral Wegovy weight-loss medication. The pharmaceutical giant contended that the product violated patents associated with its bestselling treatments.
That legal action represented merely the most recent confrontation between the two entities. Novo had earlier criticized Hims for continuing to promote compounded versions of its medications even following a previous disagreement.
What Analysts Are Saying
Michael Cherny from Leerink characterized the announcement as “both a surprise and an unabashed positive for HIMS’ stock.” He noted the agreement might circumvent what appeared to be “a protracted legal process that could include a full trial.”
However, Cherny remained cautious in his outlook. “Even with this positive news, we do not see this as a clearing event for HIMS to fully recapture its growth potential,” he stated, maintaining his Market Perform rating.
Craig Hettenbach from Morgan Stanley shared a comparable perspective. He indicated the collaboration might alleviate one of the primary concerns facing HIMS — the regulatory and legal uncertainties surrounding its weight-loss operations.
Hettenbach noted that “any reduction in those risks could lead to a strong reband in the heavily shorted stock.”
The Compounded Drug Controversy
Telehealth platforms such as Hims gained the ability to distribute more affordable compounded alternatives to Novo and Eli Lilly weight-loss treatments during a timeframe when branded medication supplies were constrained.
These supply constraints have since been resolved. Regulatory authorities anticipated compounding activities would cease, but certain telehealth providers continued operations by modifying dosages or formulations to distinguish their offerings from branded products.
This strategy placed Hims directly in Novo’s legal sights during the early months of this year.
The emerging partnership, pending official confirmation, would fundamentally transform that dynamic — converting Hims from a rival into a distribution channel for Novo’s pharmaceutical products.
Novo’s Copenhagen-listed shares were trading approximately 1% higher on the announcement as of early Monday morning.
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