Hims & Hers stock sinks after $49 Wegovy copycat U-turn and Novo Nordisk lawsuit
Hims & Hers Health shares plunged 16% in after-hours trading Monday after the company pulled its $49 compounded semaglutide pill amid a patent lawsuit from Novo Nordisk. The stock touched $16.44 before recovering some losses. Novo seeks a court order to stop sales of unapproved compounded drugs. Leerink Partners cut its price target on Hims, citing uncertainty over future sales of compounded semaglutide.